New Delhi: The largest car maker in the country Maruti Suzuki India (MSI) on Monday said it has increased the price of all its products, except Celerio, up to 1.9 percent with direct effects.
In the submission of regulations, the company noted that it has made a decision to raise prices due to an increase in various input costs.
The weighted average price increase in the ex-showroom price (New Delhi) in all certain models is 1.9 percent, added.
This is the increase in the third price of MSI this year.
Major automatically has raised prices in January and April this year, with an overall increase of around 3.5 percent.
At present, the company sells various models of Alto’s entry-level hatchback to S-Cross, at a price between Rs 2.99 lakh and Rs 12.39 (ex-showroom prices of Delhi prices), respectively.
The car maker last month said that the price increase was needed, because it was seen to protect his profitability in the midst of increasing commodity prices.
MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava said there was no other choice left for the company, but to increase prices to offset the impact of high commodity costs.
He said that steel prices rose from Rs 38 per kg last year to Rs 65 per kg in May-June this year.
Likewise, copper prices have doubled from $ 5,200 per ton of up to $ 10,000 per ton.
In the case of precious metals, the overall demand has risen in various global and Indian markets because of the transition to more stringent emissions norms.
Srivastava said that the price of precious metals such as Rhodium has increased from RS 18,000 grams in May 2020 to almost Rs 64,300 grams in July.