Maruti Suzuki India (MSI), the country's largest carmaker, announced on Monday that it has increased prices across the board by 0.9 percent to 1.9 percent, with immediate effect.
The Company, which sells a range of vehicles from the Alto to the S-Cross, said it decided to raise prices due to rising input costs. It noted that the weighted average price increase in ex-showroom pricing (New Delhi) across models, which began on April 18, is 1.3 percent.
Due to ongoing increases in material costs, MSI increased vehicle prices by roughly 8.8% from January 2021 to March 2022. The cost of the company's vehicle sales has been negatively impacted over the last year due to increases in various input costs, the automaker said in a regulatory filing earlier this month.
Automakers have been raising prices on a regular basis to counterbalance the impact of rising costs of several critical commodities such as steel, copper, aluminium, and precious metals.
Mahindra & Mahindra increased car pricing by 2.5 percent last week, resulting in a price rise of up to Rs 63,000. Toyota Kirloskar Motor, meantime, has increased prices across the board by up to 4% as of April 1. Audi, Mercedes-Benz, and BMW, among others, have lately announced price increases.
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