Maruti Suzuki have announced another price hike across its product lineup effective April 8. The company stated that the hike is necessary to offset the continuing rise in input costs and operational expenses.
This decision follows 2 previous price hikes implemented by Maruti Suzuki in January and February of this year. The January hike also saw prices rise by up to 4%, while the February increase ranged from Rs. 1,500 to Rs. 32,500 across select models. The consistent upward revision in prices is attributed to the sustained increase in the cost of essential raw materials such as steel, aluminium, and electronic components, along with broader inflationary pressures, higher energy bills, and increased logistics expenses impacting the automotive industry.
In a NSE regulatory filing, Maruti Suzuki explained its ongoing efforts to optimise costs and minimise the impact on consumers. However, the company noted that a portion of the increased financial burden must be passed on to the market to ensure sustainable operations.
Maruti have revealed that the prices of a few models will increase by Rs. 2,500 to up to Rs. 62,000. Take a look at the model-wise price increase in the table below:
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