Maruti Suzuki, the largest carmaker in the country, will increase prices again in India in the coming months citing rising input costs
Maruti Suzuki India Limited (MSIL) has confirmed in a regulatory filing of increasing prices of its domestic portfolio in the second quarter of this fiscal (July to September 2021 period). While we do not know the exact amount involved in the hike, the largest carmaker in the country cited the increase in various input costs for the price increase.
The Indo-Japanese manufacturer said in a regulatory filing: “Over the past year cost of the company’s vehicles continue to be adversely impacted 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 rise.” And it also confirmed the timeline.
The price increase will vary across different models positioned in different segments. A couple of months ago, MSIL hiked the prices of its passenger car lineup and it followed the January’s increase in prices of some of the models by up to Rs. 34,000. The production across the Indian automotive industry is getting back to its full capacity following the slowdown in the health crisis.
The carmakers will bank big on the festive season when the buying sentiments will largely be positive amongst customers and thus a number of new cars are waiting in the pipeline. As for Maruti Suzuki, the second generation Celerio is expected to launch later this year based on the lightweight Heartect architecture that already underpins a host of MSIL models.
It will more likely be powered by a 1.2-litre petrol engine developing around 84 hp while the 1.0-litre petrol is expected to stay put. Both five-speed manual and five-speed AMT are expected to be part of the transmission lineup. The new-gen Maruti Suzuki Celerio will have a redesigned exterior alongside a heavily updated interior with more premium features.
The automakers are currently working on clearing the backlog and reduce the waiting period. Maruti Suzuki currently sells Alto, Eeco, Dzire, Swift, Celerio, S-Cross, XL6, Ertiga, Vitara Brezza, Baleno, Wagon R, Ignis and Ciaz in the Indian market.