Maruti raises price 3rd time in a year amid rising input cost, stock up over 1% intraday

For the third time in a year, India’s largest auto manufacturer Maruti Suzuki to increase its vehicle prices by over one and a half per cent effective from today amid rising input costs

The company is increasing the price for select models owing to increase in various input costs: PTI

For the third time in a year, India’s largest auto manufacturer Maruti Suzuki to increase its vehicle prices by over one and a half per cent effective from today amid rising input costs

Maruti in its filing to exchanges said, “The company is increasing the price for select models owing to increase in various input costs. The weighted average price increase in ex-showroom prices (Delhi) across models is 1.6%. The new prices are effective from today i.e. 16th April 2021.”

Barring Celerio and Swift, Maruti hikes all other passenger vehicle model prices by up to Rs 22,500. The automaker had already hiked all its vehicles price in April 1, 2021. Moreover, it had also raised its vehicle prices by up to Rs 34,000 in January.

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In its regulatory filing Maruti said, "The company is increasing the price for select models owing to increase in various input costs.”

The company's stock after being volatile in trade for the whole session ended flat. However, the stock was over one per cent higher immediate after its filing. It touched Rs 6782 per share as day’s high.

In the last couple of months, it's not just Maruti but other auto manufacturers have been dented with rising input costs including raw materials. Overall, auto companies' margins and valuations have also been hit due to the input costs concern, experts predict.

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