Maruti Suzuki hikes prices for fourth time in fiscal year 2022

The country's largest carmaker Maruti Suzuki India (MSI) said it has increased prices of its models by up to 4.3 percent with immediate effect to partially offset the impact of the rise in input costs. The company has enhanced prices across its models in the range of 0.1 percent to 4.3 percent owing to increase in various input costs.

"The weighted average price increase in ex-showroom Prices (Delhi) across models is 1.7 percent. The new prices are effective from today," the auto major said in a regulatory filing. MSI sells a range of cars from Alto to S-Cross priced between Rs 3.15 lakh and Rs 12.56 lakh, respectively.

The auto major has already hiked the vehicle prices three times last year by 1.4 percent in January, 1.6 percent in April and 1.9 percent in September, taking the total quantum to 4.9 percent.

Last month, the company had stated that it has been forced to hike prices due to the increase in cost of essential commodities like steel, aluminum, copper, plastic and precious metals over the last one year.