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Maruti Suzuki increased the prices of its vehicles, price hike is applicable from today

Maruti Suzuki Hikes Prices: After expensive petrol, diesel and CNG, car ride is also going to be expensive. The country’s largest automobile company Maruti Suzuki has informed the stock exchanges that the company has increased the prices of vehicles from today.

Price hiked five times in a year
Maruti Suzuki has decided to increase the prices of vehicles by 1.3 percent from April 18 i.e. today. The price hike will depend on the model and variant of the vehicle. The company has increased the prices of vehicles for the fifth time since January 2021 due to increase in input cost. That is, in this time, the prices of Maruti’s vehicles have increased by up to 10 percent.

Due to increase in cost, the decision to increase the price
The company had given information about increasing the price on 6 April. The company had then said that due to the increase in input cost, the cost of vehicles has been greatly affected. Therefore, by increasing the prices, it has become necessary to pass some part of it to the customers. It is worth noting that last week Mahindra & Mahindra had also announced to increase the prices of its vehicles from April 14.

Margin impact due to increase in cost
Input cost is very important for any car maker. Material cost accounts for 70 to 75 percent of the total cost for any original equipment manufacturer, but for Maruti Suzuki it has increased to 80.5 percent. Due to this the margin of the company has also been affected. This is the reason why Maruti Suzuki has had to take the decision to increase the price.

 

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