Maruti Suzuki blamed rising input costs as the main reason why car prices were once again forced to increase across models.
Maruti Suzuki will increase the price of passenger cars again this month. The company announced its decision in a regulatory filing and blamed the price increase on increased input costs for the decision. The country’s largest automaker has raised the price of its cars several times over the past few months but is just one of many auto brands that have done so.
In a legal filing, Maruti Suzuki announced that high input costs have caused car prices to rise rapidly. The exact amount of increments will vary depending on the model.
The Indian auto industry continues to face challenges on many fronts. While the problem of semiconductor shortages continues to linger without respite, the supply chain has also been significantly impacted by the Russia-Ukraine conflict as well as China’s imposition of lockdown restrictions in many parts of the world. their city.
The Federation of Automobile Dealers Associations (FADA) recently predicted the doldrums will continue while noting that overall sales in March were down compared to figures from March 2021 and 2020. It should be noted that for passenger vehicles in particular, while demand is still strong, problems are more occurring on the production and supply side. This coupled with rising fuel prices could really hurt sales in the near term.
(Also read: FADA says auto industry expected to hit pre-pandemic high in 2024)
But Maruti in particular remains poised to weather most of the tough times and is set to launch the updated Ertiga and XL6 on the market, possibly as soon as this month.
Date of first publication: April 6, 2022, 02:06 PM IST
