The country’s largest automaker, Maruti Suzuki India (MSI), announced on April 18 that it has increased the prices of its entire model range by 0.9% to 1.9%, effective immediately.
The company, which currently sells a range of vehicles from Alto to S-Cross, said it made the decision to raise prices due to an increase in input costs.
The weighted average price increase from April 18 in ex-showroom prices (New Delhi) for all models is 1.3%, he added.
MSI has already increased vehicle prices by around 8.8% from January 2021 to March 2022 as input costs have steadily increased.
Over the past year, the cost of the company’s vehicles has continued to be negatively impacted by increases in various input costs, the auto major said in a registration filing earlier this month.
As the prices of various key commodities such as steel, copper, aluminum and precious metals rise, automakers have regularly hiked prices to offset the impact.
Last week, Mahindra & Mahindra raised vehicle prices by 2.5%, an increase of up to ₹63,000.
Similarly, Toyota Kirloskar Motor has increased the prices of its entire model range by up to 4% starting April 1st.
Luxury car manufacturers Audi, Mercedes-Benz and BMW also recently announced price increases.
