Why has Maruti again increased the prices of its cars?

After 3 price hikes last year, Maruti Suzuki has started the new year with one more price hike. In fact, the latest price hike in January 2022 ranges between 0.1% and a peak level of 4.3% across a slew of car models. The overall weighted average price hike works out to 1.7% on all models across the board.

Incidentally, Maruti Suzuki has already hiked prices of its various car models three times in the previous year. In the previous year, the total price hikes adding up to a weighted average hike of 4.9%. Price hikes have been necessitated by a slew of key inputs like steel, aluminium and plastics rallying sharply even as the microchips shortage continues to haunt.