The country’s largest car maker Maruti Suzuki India (MSI) is going to increase the prices of its vehicles once again from September. A senior company official said on Tuesday that it wants to protect its profits amid sharp rise in commodity prices. He told that because of this the company has taken this step. The company is working on the quantum of increase in the price of each model and variant, as it aims to keep the increase to a minimum, so that it does not affect the demand in the market and it can run its operations profitably.
Cars price starting from Rs 2.99 lakh
Earlier, the auto company had increased the prices in January and April this year. This will be his third addition this year. Currently, the company is selling a range of models from the entry-level hatchback Alto to the S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom, Delhi).
MSI senior executive director (sales and marketing) Shashank Srivastava further said that overall, the company has grown by around 3.5 per cent, but this too is not enough to cover the rise in commodity prices and material costs. Therefore, they are forced to hike the prices again in September, he said.
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He mentioned that price hike has always been the last option for the company as it aims to keep acquisition prices as low as possible for the customer. They have first tried to cut down on internal costs like travel cost, marketing cost. He took several steps to increase the capacity and production. He told that when there is no other option left, he has decided to increase the prices.