Maruti Suzuki increases prices of Swift, CNG variants

Auto major Maruti Suzuki India Ltd on Monday (July 12) raised the price of its popular car brand Swift and all CNG variants by up to ₹ 15,000 (ex-showroom price Delhi) due to an increase in various input costs. The new prices are effective from July 12.

After the announcement, the share of Maruti Suzuki rose a little over 1 per cent to hit an intraday high of ₹7,589.30 on BSE. It opened 0.48 per cent higher at ₹ 7,461.00 against the previous close of ₹ 7,425.15. Market cap of the firm rose to ₹ 2,28,266.80 crore.

The company in June had said that it would increase the prices of its cars from July in order to pass on some impact of additional cost to customers.

Also read: Amid COVID-19, Maruti struggles to balance staff safety, production

“This is to inform you that over the past year the cost of the company’s vehicles continues to be adversely affected due to an increase in various input costs. It has become imperative for the company to pass on some impact of the additional cost to customers through a price rise,” Maruti Suzuki said on June 21.

“The price rise has been planned in quarter 2 and the increase shall vary for different models,” said the carmaker.

Before the price hike, Swift was available at a price range of ₹ 5.73 lakh to ₹ 8.27 lakh (ex-showroom Delhi) across variants.

The manufacturer sells CNG variants across its range of models, including Alto, Celerio, S-Presso, WagonR, Eeco and Ertiga with prices ranging from ₹ 4.43 lakh to ₹ 9.36 lakh.

Also read: Maruti, Toyota, Tata make ride easier; extend warranty, free service

Maruti Suzuki had raised prices for different car models in April due to a rise in various input costs. In January, the carmaker had cited the same reason for the increased prices for some models. The prices were hiked by up to ₹34,000 depending on the model and ranges.

Automakers across the world have been badly affected by a shortage of semiconductors and rising metal prices in markets, leading to price hikes.

Sem-conductors are being increasingly used in the auto industry with more electronic features such as Bluetooth connectivity and driver-assist, navigation and hybrid-electric systems.