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Maruti Suzuki India share price was up a percent in the morning session on March 23 after the auto major increased vehicle prices. The country’s largest carmaker has increased vehicle prices with effect from April 2021. “Over the past year, the cost of company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in April 2021,” Maruti said in its BSE filing.
The stock was trading at Rs 7,196.00, up to Rs 92.80, or 1.31 percent at 09:36 hours. It has touched an intraday high of Rs 7,210.00 and an intraday low of Rs 7,130. Before this, the firm on January 18 had also announced an increase in its vehicle prices by up to Rs 34,000 (ex-showroom in Delhi). It had raised the price of Alto by up to Rs 9,000, while Espresso’s price was increased by Rs 7,000 more. For Baleno, the price was hiked by up to Rs 19,400.
The country’s largest carmaker reported an 11.8 percent increase in wholesales to 1,64,469 units in February 2021 against 1,47,110 units in February last year. Its domestic sales increased by 11.8 percent to 1,52,983 units last month, as against 1,36,849 units in February 2020. The firm had also said that its exports in February were up 11.9 percent at 11,486 units, as against 10,261 units in the corresponding month last year.
