Maruti Suzuki has not revealed the quantum of the price hike but it will come into effect from September
Maruti Suzuki India will be increasing prices across its model line-up in September 2021, the company announced in a regulatory filing. While the quantum of the price hike has not been revealed, the company has stated that the price hike is mainly due to the increase in various input costs. Having said that, this price revision was already expected. Back in June 2021, Maruti Suzuki India had announced in a regulatory filing to the Bombay Stock Exchange (BSE) that it will hike car prices in India in the second quarter (Q2) of Financial Year 2021-22.
In its official statement, Maruti Suzuki India said, “With reference to our earlier communications with respect to price increase, we wish to inform you that over the past year the cost of Company’s vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative to pass on some impact of the additional cost to the customers through a price rise. The price rise has been planned across models in September 2021.”
Now, Maruti Suzuki India has already increased the prices of the Swift hatchback and its entire CNG model line-up at the beginning of the ongoing quarter, in July 2021. The carmaker had increased prices by up to ₹ 15,000, depending on model and variant and had announced that it will increase the price of other petrol models soon. It’s unclear if the prices of the Swift and the company’s CNG models will be revised again or will they remain unchanged.
This is the third time that the Indo-Japanese carmaker will be increasing the price of its cars this year. Earlier in January 2021, the company had increased prices for select models by up to ₹ 34,000, and once again in April 2021. On both occasions, the carmaker had cited a rise in input costs as the reason for the price hike.