New Delhi. Carmaker Maruti Suzuki India on Monday announced that it will increase the prices of all models from next month amid rising costs.
The company told the stock exchange that the cost of various types of raw materials has increased in the last one year. Due to this, the cost of the company’s vehicles has also been adversely affected. Therefore, it has become necessary to pass on some impact of the additional cost on the customers by way of increase in prices.
According to Maruti Suzuki India, “price hikes are planned for all models in September 2021”. However, on which model the price has been increased, the company has not yet disclosed about it.
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Auto demand expected to grow by 10-15 percent
At the same time, according to a survey by agency Crisil, the demand from automobile dealers is expected to increase by 10-15 percent during the financial year 2021-22 due to increase in buyers along with festive season sales and new offers. According to the rating agency, this speed may be affected if the fears of the third wave of Kovid-19 come true. Along with this, rising fuel prices and supply constraints to component manufacturers (OEMs) could also impact the automobile sector. According to Crisil, the performance of automobile dealers also varies region-wise, with dealerships in North India being affected the most.
Auto sector shocked by fear of third wave
The survey was conducted among over 123 dealers of two wheelers, passenger and commercial vehicles. The objective was to know about the sentiments and expectations of the dealers. According to Bhushan Parekh, director, Crisil, “The demand for this had increased in the festive season of the last financial year, but it could not survive. Two wheeler dealers were the most upset. Sales this fiscal have not yet reached pre-pandemic levels. He said that there is a positive sentiment among the dealers, but due to the third wave of corona virus epidemic in the festive season, the concern remains.
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