India largest carmaker Maruti Suzuki hikes prices due to rising input costs
India’s largest carmaker Maruti Suzuki India said on Monday it has hiked the prices of its cars due to rising input costs.
“The weighted average price increase in ex-showroom prices (Delhi) across select models is 1.9 percent. This is the third price hike by Maruti Suzuki this year. Last month, the company said that a price hike was necessary as it looks to protect its profitability amid a steep rise in commodity prices.
MSI Senior Executive Director for sales and marketing Shashank Srivastava had said there was no other option left for the company but to increase prices to offset the impact of high commodity costs.
Last week, Maruti Suzuki India said it will recall 1.81 lakh units manufactured between May 4, 2018, to October 27, 2020, to rectify faults that may be potential safety defects, making it the largest recall so far.