According to a regulatory filing, Maruti
Suzuki India Limited (MSIL) has experienced a price hike of 1.9% on its entire
product line which includes Swift, Baleno, Ciaz, S-Cross, Alto 800, and
This increase in the prices of cars is due
to the hike in input costs. The hike ranges from Rs. 7,500-22,500, depending on
the model. At the beginning of this year, the company increased the prices of
certain models up to Rs 34,000, and then there was another price hike in April.
Later in July, the prices of the Swift hatchback and the entire line-up of CNG
cars increased by Rs 15,000.
The company has blamed increasing prices of
raw materials like precious metals and steel for the hike in car prices.
According to Sunjay Kapur, President, the Automotive Component Manufacturers
Association of India (ACMA), the areas of concern for the industry are the chip
shortage, logistical uncertainty, astronomical shipping, and an increase in the
price of raw materials. Maruti is also going to launch two new cars that
include Baleno SUV and Celerio hatchback.
Source – NewsBytes