Aruti hikes prices y up to 1.9% due o rising input costs

The country’s largcarmaker Maruti Suzuki a (MSI) on Monday said it ncreased prices of its entire uct range, except Celerio, p to 1.9% with immediate t. a regulatory filing, the pany noted that it has taken ecision to hike prices due increase in various input s. The weighted average e rise in ex-showroom prinew Delhi) across select els is 1.9%, it added. his is MSI’S third price hike year. he auto major has already d prices in January and l this year, with an overall of around 3.5%. present, the company sells nge of models from entryl hatchback Alto to OSS, priced between ₹2.99 and ₹12.39 (ex-showroom prices Delhi) lakh, respectively.

The carmaker had last month said that a price hike was necessary, as it looks to protect its profitability amid a steep rise in commodity prices.

MSI senior executive director (Sales and Marketing) Shashank Srivastava had said there was no other option left for the company, but to increase prices to offset the impact of high commodity costs. He had said that steel prices have gone up from ₹38 per kg last year to ₹65 per kg in May-june this year.

Similarly, copper prices have doubled from $5,200 per tonne to $10,000 per tonne.

In the case of precious metals, the overall demand has gone up in various global markets and India due to the transition to stricter emission norms.

Srivastava had said that the prices of precious metals like rhodium have increased from ₹18,000 a gram in May 2020 to almost ₹64,300 a gram in July.