Maruti Suzuki to Hike Car Prices by Rs 20,000 on Selected Models Again; Stock Turns Green
The automaker said rising input costs and inflation are forcing it to pass on part of the increase to customers.
- On Monday, Maruti Suzuki India announced a price hike of up to Rs 20,000 for select models effective this month, citing "continuous sustained increase in input costs" for the decision.
- Peers including Tata Motors and Hyundai also recently announced price hikes amid inflationary burdens. Tata Motors increased prices by Rs 25,000, reflecting the industry's enduring adverse cost environment.
- During Monday's trading session, the BSE Sensex fell 0.6% while Maruti Suzuki shares rose 0.6%. The Company stated it is "constrained to pass on a portion of the increased costs to the market."
- Maruti Suzuki India Managing Director and CEO Hisashi Takeuchi emphasized deeper localization at the 66th ACMA Annual Session. Takeuchi noted that cost is no longer the only factor shaping global supply chains.
- The new pricing applies only to select models across the Arena and Nexa ranges. The automaker continues cost reduction efforts while specific vehicles remain unspecified.
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Maruti Suzuki to Hike Prices of Select Models by Up to Rs 20,000 from September
Get latest articles and stories on Business at LatestLY. Maruti Suzuki India will increase prices of its select models by up to Rs 20,000 from September, marking its third price hike since May, according to an exchange filing. Business News | Maruti Suzuki to Hike Prices of Select Models by Up to Rs 20,000 from September.
India's Maruti Suzuki hikes prices for a third time since May
The Economic Times
Times of IndiaMaruti Suzuki to hike car prices by Rs 20,000 on selected models again; stock turns green
Maruti Suzuki will increase car prices by up to twenty thousand rupees this September. This follows a previous price adjustment of around thirty thousand rupees last month. The automaker cited sustained increases in input costs as the primary reason. Maruti Suzuki has made efforts to mitigate these rising costs through various measures. However, the company is now passing on a portion of these increased costs to customers.
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