Maruti Suzuki hikes price for Swift, all CNG variants

Auto giant Maruti Suzuki said on Monday that it has increased prices for Swift and all CNG variants. It added that the price increase of Rs 15,000 has been done due to the rise of various input costs. Maruti said that more price hikes for other models are also being planned.

“With reference to our earlier communication dated 21 st June, 2021, Maruti Suzuki India Limited today announced a price change for Swift and all CNG variants owing to increase in various input costs. Increase in Ex Showroom Prices (Delhi) is up to 15,000 INR on the above models. The new prices are effective from today i.e. 12 th July, 2021,” it said in a BSE filing.

It further added, “The price increase in other models is planned shortly and shall be intimated accordingly.”

The price hike comes after the company had announced on June 21 that it would increase the prices of its cars from July. It said in a filing that the cost of its vehicles have been adversely impacted due to an 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. The price rise has been planned in quarter 2 and the increase shall vary for different models," the carmaker had stated.

Maruti Suzuki had increased prices for different car models in April due to input costs.

After the announcement, share of Maruti Suzuki rose 2 per cent to hit an intraday high of Rs 7,589.30 on BSE. It opened 0.48 per cent higher at Rs 7,461.00 against the previous close of Rs 7,425.15. Market cap of the firm rose to Rs 2,28,266.80 crore.

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