Maruti Suzuki India Limited, the Indian automotive manufacturer, has announced that the company will be raising the car prices with specific models experiencing specific hikes in the prices. Earlier, the company had stated the price hike will come into effect from September 2021. The company announced a 1.9 percent increase in the final cost of the cars, which are now in effect since September 6.
The hike ranges from Rs.7,500 to Rs.22,500, depending on the model of the vehicle. For the entry-level models of the manufacturer, the price of Alto 800 has increased by Rs.16,100, while the S-Presso has seen an uptick of Rs.7,500. The widely popular models, the Wagon R and Swift, have witnessed a hike of Rs.12,500 and Rs.13,000, respectively.
Coming to other hatchbacks of the car, the price of the Maruti Suzuki Ignis is now up by Rs.14,680, and the cost of Baleno has increased by Rs.15,200. The compact SUV Vitara Brezza has seen a hike of Rs.10,000, and the Sedan model, Maruti Suzuki Ciaz’s price, is up by Rs.20,500. The highest jump in price is seen in Eeco, whose price has increased by Rs.22,500.
According to the Indian automobile mogul, the price hike is a result of the inflationary influence on the input costs of various raw materials like steel and other precious metals. The increase in the input costs is cited as the key reason behind the soaring prices of the vehicles manufactured by MSIL.
The September price hike is the third official price hike by the company since the conglomeration of Maruti Udyog Limited and Suzuki Motor Corporation. “There are major impediments regarding the supply chain, which includes chip shortage, sky-rocketing shipping rates, raw material prices, and other uncertainty in logistics that are leading to the increase in prices. These are the key challenges, and as an industry, we need to resolve them,” Sunjay Kapur, President, Automotive Component Manufacturers Association of India (ACMA), told Autocar.