Maruti Suzuki India Ltd is all set to raise the prices of its cars by Arpil 2021 due to the rise in input costs. Maruti has already raised prices of some its models in January 2021 due to increased input costs.
"Over the past year the cost of company's vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in April, 2021. This price increase shall vary for different models," Maruti Suzuki said in a communication to exchanges.
India's largest automaker's sales has gone up by 8.27% in the month of February to 1,44,761 units. The second largest carmaker of India Hyundai reported 28.97% jump in sales at 51,600 units.
Earlier Maruti Suzuki also announced that its service network has grown into strong 4,000 outlets across India while covering 1989 towns and cities. The auto major has added 208 new service stations in 2020-21 despite tough business sentiments due to COVID-19 pandemic.
Maruti has launched updated Swift last month between the price range of ₹5.73 lakh and ₹8.41 lakh (ex-showroom Delhi). It is mated to both manual and automatic transmission.
In December quarter, Maruti had reported the rise of 26% in its consolidated net profit to Rs 1996.7 crore. Its net-profit was pegged at Rs 1587.4 crore in the October-December quarter. Driven by strong sales numbers, its total revenue increased by 13% to Rs 23,471.3 crore for the third quarter. Maruti Suzuki sold 4,95,897 cars in the December quarter. It was a solid increase of 13.4% in comparison to the quarter of previous fiscal.