Team News Riveting
New Delhi, December 2
Maruti Suzuki India Limited has decided to increase the price of vehicles in January 22 following hike in the input costs.
“The price rise has been planned in January, 2022. The increase shall vary for different models,” the company said in a regulatory filing today. Over the past year, the cost of Company’s vehicles continued to be adversely impacted due to increase in various input costs, it said, adding that therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike.
Maruti posted total sales of 139,184 units in November 2021. Total sales in the month include domestic sales of 113,017 units, sales to other OEM of 4,774 units and its highest ever monthly exports of 21,393 units. The shortage of electronic components had a minor impact on the production of vehicles during the month. The shortage primarily affected the production of vehicles sold in domestic market. The Company took all possible measures to minimise the impact.
Owing to a supply constraint of electronic components due to the semiconductor shortage situation, the Company is expecting an adverse impact on vehicle production in the month of December’21 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Private Limited (SMG) in Gujarat, the company has said earlier.
Though the situation is quite dynamic, it is currently estimated that the total vehicle production volume across both locations could be around 80 per cent to 85 per cent of normal production.
