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Maruti Suzuki will do twist in the new year, the prices of vehicles will increase from January 2022

Highlights:

  • Price of Maruti Suzuki cars will increase in the new year
  • Maruti Suzuki gave this information to the stock market on Thursday.
  • Rising material prices will drive up the prices of cars

If you are thinking of buying a Maruti Suzuki car in the new year, then here is some shocking news for you. On Thursday, Maruti Suzuki informed the stock exchange that it will increase the prices of its cars from January 2022. And the price for different models will be different. Maruti Suzuki will increase the prices of its cars as the prices of the essential materials used in making the cars go up.

maruti suzuki informed the stock market about the increase in prices

Giving information about the stock market, Maruti Suzuki said that in the last one year, many types of input costs have increased, which is affecting the company’s cars. And that is why, as mentioned above, the price increase has to be passed on to the consumers by increasing the prices slightly. The company also said in a statement that it plans to implement the price hike in January 2022. And this price hike will vary for different models.

Car prices will rise as material prices rise

Shashank Srivastava, senior executive director (marketing and sales), Maruti Suzuki India, told PTI in an interview in November that for any OEM (original equipment manufacturer), material cost is the most important factor among all cost structures. About 70 to 75 percent of the total cost of the OEM is only the material cost. In the second quarter, the material cost to net sales ratio reached a high of 80.5 percent. And this is an unprecedented growth.

It is worth noting that due to the continuous increase in material prices after the Corona period, Maruti Suzuki has also increased the prices of cars in the year 2021. There were also reports in January and June that the company had increased the prices of cars. And now in the new year also Maruti Suzuki is increasing the price.

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