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Maruti Suzuki vehicles became costlier by 4.3%, prices were increased by 4.9% in the year 2021 too

The country’s largest car company Maruti Suzuki India has increased the prices of its various models by up to 4.3 percent. Giving this information on Saturday, the company said that it has taken this step to partially reduce the burden of increase in cost of production. The company has increased the prices of its various models by 0.1 to 4.3 percent.

In a communication to the stock exchanges, Maruti Suzuki said that the weighted average price of various models at the Delhi showroom has increased by 1.7 percent. The new prices have become effective from today. Maruti sells models from Alto to S-Cross. Their price ranges from Rs 3.15 lakh to Rs 12.56 lakh. Last year, Maruti increased the prices of its cars three times.

In January last year, Maruti had increased prices by 1.4 per cent, in April by 1.6 per cent and in September by 1.9 per cent, or 4.9 per cent overall. The company had said last month that it would have to increase the prices of its vehicles due to the rise in prices of essential commodities such as steel, aluminium, plastic and precious metals in the past one year.

However, the auto industry in general is currently facing various headwinds such as shortage of semiconductor chips and other parts. This was the reason that in December last year, production at Maruti’s facilities fell by two per cent.

The company produced a total of 1,52,029 units last month as against 1,55,127 units in the year-ago period. Last month’s total passenger vehicle production stood at 1,48,767 units, up from 1,53,475 units in December of 2020.

News agency Reuters reported last month that production at two of Maruti’s facilities in Haryana and Gujarat was to remain impacted with production at 80% to 85% of normal production, while the country’s demand for passenger vehicles saw a second wave of Covid-19. Wave after wave has bounced back. Production and supply has been a major concern for automakers.

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