Maruti Suzuki hikes prices The country’s largest car manufacturer Maruti Suzuki is known worldwide for affordable and low budget cars. But today the company has announced that it will increase the price of its selected models by next month. The company cited rising input costs in the wake of price increases. According to reports, the new prices could go into effect from April 1.
If you too are thinking of buying a Maruti Suzuki, this is your last chance. This is because all models from April to Maruti Alto are expensive. Let me tell you this is the second time this year that the company is going to increase the price of its cars. The company had earlier hiked vehicle prices in January.
How much the price will increase: Maruti Suzuki says the new price hike will depend on different models. However, the company has not shared any information on how much the price of the car will go up. The auto sector has been badly affected by the corona epidemic for the past one year. The company is already in trouble with low demand and high input costs.
Apart from Maruti Suzuki, many other automakers have increased the price of their vehicles. In January, Maruti Suzuki set the price of its cars at around Rs 34,000. At the same time, Mahindra & Mahindra has increased the price of its vehicles by 1.9% and Tata Motors by nearly Rs 26,000.
However, a recent study by India Ratings and Research (Ind-RAW) says that despite the increase in vehicle prices and fuel prices, the demand for passenger vehicles and two-wheelers has not decreased. Due to the corona epidemic, it has been mentioned in the past that people prefer personal mobility over the public transport system.
Passenger vehicles sales increased by 18% in February this year compared to the same month last year. At the same time, two-wheeler sales grew by almost 10%. Since September last year, the country’s auto sector is back on track but at a slower pace.
