Maruti Suzuki hikes prices across models by around 1.1%

Maruti Suzuki on Monday announced a 1.1% price hike across its models. This indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from today, a company release said.

Carmakers such as Hyundai, and Tata Motors to luxury brands Audi and Mercedes-Benz have also announced plans to increase prices across their offerings starting this month to partially offset the impact of rising costs. They had said earlier that costs would increase through 2022 amid a shortage of semiconductors, among other factors.

Prices are going up as car sales in India revive after disruptions caused by COVID-19 and shortages of components including semiconductors. Companies are expanding vehicle production capacities and Maruti Suzuki is building a new factory in Haryana.

Maruti Suzuki, which makes Baleno, Celerio, Dzire, Ignis, Swift, and WagonR cars, said the price increases will differ based on the model.