On Monday, automobile giant ‘Maruti Suzuki India Limited’ announced a price change for Swift and all CNG variants. This price hike is done to cater to the increase in various input costs. The increase in ex-showroom prices (Delhi) is up to ₹15,000 on the above models with effect from 12th July 2021.
“The prices of steel and precious metals like Rhodium and Palladium have gone up substantially. In April, we passed on a part of the increased input costs to consumers thinking that the prices of these essential commodities will come down eventually. But that has not happened and as a last resort we are doing it to safeguard the company’s financial health,” said MSI Executive Director (Sales and Marketing), Mr. Shashank Srivastava, on Monday.
Reliable sources confirm that Maruti plans on hiking the prices of other models too. On June 21st, the carmaker itself announced that to mitigate the impact of additional cost to customers, it will increase the prices from July.
“The price rise has been planned in quarter 2 and the increase shall vary for different models,” the auto major stated. Following the announcement, shares of Maruti Suzuki surged over 1% higher in Monday’s opening deals to ₹7,500 per share on the BSE.
Let’s take a look at the highlights following the big news.
- On January 18th this year, the automaker announced a price hike of select models by up to Rs 34,000 due to the rise in input costs.
- On April 16th, Maruti Suzuki had announced the weighted average price increase in ex-showroom prices (Delhi) across models of 1.6 percent.
- The price rise has been planned for the second quarter of the fiscal and it would vary for different models.
- Before the price hike, Swift was available at a price range of Rs 5.73 lakh to Rs 8.27 lakh (ex-showroom Delhi) across variants.
- Maruti Suzuki used to mark CNG variants across its range of models, including Alto, Celerio, S-Presso, WagonR, Eeco, and Ertiga with prices ranging from Rs 4.43 lakh to Rs 9.36 lakh.
- Maruti Suzuki manufactured 1,65,576 units, a four-fold increase from the figure of 40,924 units produced in May.
The automobile domain in India is gearing up to swing back into business following the relaxation in Covid curbs. June has been good for the auto market and July is expected to be even better. This is the result of 2 major factors – first, the pent-up demand for cars after the dry spell due to the coronavirus lockdown. Second, all the major carmakers plan on launching their respective new models with lucrative features. Log into www.carjasoos.com for the updated price list of all the Maruti cars and to know more about automotive industry.