Maruti Suzuki Raises Car Prices Again Amid Rising Input Costs
Maruti Suzuki has increased prices of select car models by up to Rs 20,000 this month as rising input costs and inflation continue to pressure automobile companies.
Buying a Maruti Suzuki car is set to become slightly more expensive this month. The automaker has announced a price increase of up to Rs 20,000 on selected models, citing the continued rise in input costs.
Maruti Suzuki said it has been taking steps to absorb the increase in expenses, but the pressure has continued. With the cost environment remaining difficult, the company has decided to pass on part of the additional burden to customers.
The carmaker has not announced the exact models that will be affected by the latest revision. Details of the new prices for individual cars and variants are also expected to be shared separately.
For customers planning to buy a new car, the announcement means the final on road cost could go up depending on the model they choose. The company, however, said it would try to ensure that the impact on customers remains as low as possible.
Maruti Suzuki has revised its prices several times in response to changing costs. The company had increased prices across several models sold through its Arena and Nexa networks last August. That revision saw prices rise by between Rs 2,500 and Rs 30,000.
The latest move comes at a time when other major carmakers are also adjusting their prices. Tata Motors raised prices of its petrol, diesel and electric models by up to Rs 25,000 from September 1. Hyundai Motor India has also announced an increase of up to 1 percent across its vehicle lineup.
Higher raw material and manufacturing costs have become a concern for the automobile industry. Companies are trying to manage these expenses without putting too much pressure on demand, while customers are becoming increasingly sensitive to changes in vehicle prices.
Interestingly, Maruti Suzuki shares remained in positive territory after the announcement. The stock was trading around 0.6 percent higher on the BSE in afternoon trade at Rs 12,774.95.
More clarity is expected once Maruti Suzuki releases the model wise price details. Until then, customers looking to purchase a Maruti car may have to wait before they know exactly how much the latest hike will add to their bill.
