Maruti Suzuki New Car & SUV Prices Expected to Increase in July Due to Rise in Input Costs

Maruti Suzuki New Car & SUV Prices Expected to Increase in July Due to Rise in Input Costs
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Maruti Suzuki New Car & SUV Prices Expected to Increase in July Due to Rise in Input Costs

Highlights

Maruti Suzuki India is the nation's largest automobile maker, has stated that there would be increase in the prices of cars from July because of rise in production cost

Maruti Suzuki India is the nation's largest automobile maker, has stated that there would be increase in the prices of cars from July because of rise in production cost.

Based on the model, the percentage of price hike would vary and the company would very soon, make price announcement for New Celerio.

This year, it has been a third instance wherein the company has increased the prices for new car and SUV's. In the month of January, 2021, Maruti Suzuki had increased prices by 1 to 6% based upon the model, over the earlier ex-showroom prices in Delhi. This hike rise was around Rs.5,000 to a maximum of Rs.34,000. Then in the month of April, the second hike followed.

In its regulatory filing, the company has stated, that over the previous year, the cost of the company's vehicle continues to be adversely impacted because of rise in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to its customers by rising the price. The price hike has been planned in Quarter 2 and the hike shall vary for different models.

Upcoming Launches

Maruti Suzuki would be very soon launching its next-gen Celerio in the Indian market. Additionally, the company is planning for all-new SUV and a premium hatchback from the brand, which it expects to unveil next year. For India, 5-door jimny is also in the works.

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