The country’s largest carmaker Maruti Suzuki has finally announced an increase in the price of its vehicles. Maruti Suzuki India (MSI) on Saturday said that the company has increased the price of its vehicles by up to 4.3%, which has been implemented with immediate effect.
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The company has cited rising input cost as the reason behind the increase in the price of the vehicles. Let us tell you that the discussion had started last month that the company would soon increase the price of the vehicles. Now the company has increased the prices of all its models by 0.1 percent to 4.3 percent due to increase in various input costs.
“The weighted average price increase at ex-showroom prices (Delhi) across all models is 1.7 per cent. The new prices are effective from today,” Maruti Suzuki said in a regulatory filing. The cheapest car in the company’s vehicle portfolio is the Maruti Alto, whose starting price till now was Rs 3.15 lakh. The company had increased the prices of its vehicles thrice last year.
Vehicle prices were hiked three times last year by 1.4 per cent in January, 1.6 per cent in April and 1.9 per cent in September, taking the overall price of vehicles up to 4.9 per cent. Last month, the company had said it was forced to hike prices in the past one year due to increase in the cost of essential commodities like steel, aluminium, copper, plastics and precious metals.
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Apart from Maruti Suzuki, some other automakers are also engaged in updating their vehicle portfolio. Soon their new prices will also be announced.