Friday, July 30, 2021

Maruti Suzuki Hikes Car Prices Citing Rising Input Costs; Shares Decline

Maruti Suzuki worth hike is deliberate in second quarter of the present monetary yr.

The nation’s largest automobile maker – Maruti Suzuki – on Monday introduced that it’s going to undertake one other worth hike for its autos as the price has been adversely impacted on account of enhance in varied enter prices. This is the fourth worth hike Maruti Suzuki has undertaken to date this yr. The Gurugram-based firm had undertaken first worth hike of the yr in January after which once more elevated automobile costs twice in April.


“Over the past year the 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,” Maruti Suzuki mentioned in a inventory alternate submitting.


The firm didn’t point out the quantum of worth hike however mentioned that the rise will cautious for various fashions and it’s deliberate within the second quarter of the present monetary yr.

Car makers throughout the nation are fighting rising metallic price and absence of semiconductors available in the market, analysts mentioned.

Semiconductors are silicon chips that cater to regulate and reminiscence capabilities in merchandise starting from cars, computer systems and cellphones to varied different digital gadgets.

The utilization of semiconductors within the auto trade has gone up globally in current occasions with new fashions coming with increasingly digital options equivalent to Bluetooth connectivity and driver help, navigation and hybrid electrical techniques.

Following the worth hike growth, Maruti Suzuki shares traded 1.12 per cent decrease at Rs 6,881, underperforming the Sensex which was down 0.4 per cent.

Latest news
Related news
- Advertisement -