Maruti Suzuki hikes car costs by as much as 1.9%

The nation’s largest carmaker Maruti Suzuki India (MSI) on Monday mentioned it has elevated costs of its complete product vary, besides Celerio, by as much as 1.9 per cent with fast impact.
In a regulatory submitting, the corporate famous that it has taken the choice to hike costs attributable to a rise in varied enter prices.
The weighted common worth rise in ex-showroom costs (New Delhi) throughout choose fashions is 1.9 per cent, it added.
This is MSI’s third worth hike this yr.

The auto main has already raised costs in January and April this yr, with an general hike of round 3.5 per cent.
At current, the corporate sells a spread of fashions from entry-level hatchback Alto to S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 (ex-showroom costs Delhi) lakh, respectively.
The carmaker had final month mentioned {that a} worth hike was needed, because it appears to guard its profitability amid a steep rise in commodity costs.
MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava had mentioned there was no different possibility left for the corporate, however to extend costs to offset the affect of excessive commodity prices.
He had mentioned that metal costs have gone up from Rs 38 per kg final yr to Rs 65 per kg in May-June this yr.
Similarly, copper costs have doubled from USD 5,200 per tonne to USD 10,000 per tonne.

In the case of valuable metals, the general demand has gone up in varied international markets and India as a result of transition to stricter emission norms.
Srivastava had mentioned that the costs of valuable metals like rhodium have elevated from Rs 18,000 a gram in May 2020 to virtually Rs 64,300 a gram in July.