Biznextindia : Maruti Suzuki India Limited (MSIL), India’s top seller of passenger vehicles has announced price hike of some of its selected models from today. The weighted average price increase in Ex Showroom Prices (Delhi) across models is 1.6%.
The company has attributed the price hike to rise in input costs. Automobile companies are facing rising commodity and metal prices amid global short supply.
“This is to inform you that the Company is increasing the price for select models owing to increase in various input costs. The weighted average price increase in Ex Showroom Prices (Delhi) across models is 1.6%. The new prices are effective from today i.e. 16 th April, 2021” MSIL said in a regulatory filing.
MSIL has closed the 2020-21 financial year with a 6.7% declines in sales at 1,457,861 units as against 1,563,297 units in FY20. The decline in annual sales is due minimal sales in the initial months of the financial year. The company’s overall March 2021 sales almost doubled to 167,014 vehicles as against only 83792 vehicles in March 2020.