Maruti Suzuki Hikes Prices; Stock Gains Nearly 1%

Maruti Suzuki has hiked the prices of select models by 1.9 per cent with effect from today i.e. September 6, 2021 "owing to increase in various input costs." "The weighted average price increase in Ex Showroom Prices (Delhi) across select models is 1.9 per cent," Maruti Suzuki said. This is the auto major's third price hike this year, after the increase in January and April.

“In continuation to our earlier communication on 30th August 2021, please note that with effect from 06th September 2021, the company announced a price change for select models owing to increase in various input costs," Maruti Suzuki said in a regulatory filing to the stock exchanges.

Maruti Suzuki had announced last month that it would raise prices of its models owing to an increase in input and manufacturing costs. 

Meanwhile, last week, Maruti Suzuki decided to voluntarily recall more than 1.81 lakh units of select petrol models of the Ciaz, Ertiga, XL6, S-Cross, and the Vitara Brezza manufactured from May 4, 2018 to October 27, 2020. 

At 12:00 pm, Maruti Suzuki shares were trading higher by 0.6 per cent at Rs 6910 on the BSE as against a 0.27 per cent rise in the benchmark indices.