Stock Market update: Maruti Suzuki Ltd shares up by 2.27% as the company hikes vehicle prices

The shares of Maruti Suzuki India Limited surged by 2.27% at Rs. 8,272.90 today in early trade.

The share price of automobile company Maruti Suzuki India Limited increases by 2.27 at Rs. 8,272.90 and reclaiming points over 197. Today’s trade opened at Rs. 8124.80 representing a surge of 0.50%. Whereas, the shares hit a high of Rs. 8368.90.

Maruti Suzuki has increased the selling prices of its models in the range of 0.1% to 4.3% due to the increase of its input cost. “The weighted average price increase in ex-showroom Prices (Delhi) across models is 1.7 percent. The new prices are effective from today,” the auto major said.

In 2021, the automobile company has already increased its selling price three times by 1.4 percent in January, 1.6 per cent in April and 1.9 per cent in September, taking the total to 4.9 per cent. As per the company, the reason behind the hike in prices is due to the increase in the cost of input commodities such as steel, aluminium, plastic, alloys and many other metals.

According to the sales figure report released by Maruti Suzuki India, “Maruti Suzuki India Limited posted total sales of 153,149 units in December 2021. Total sales in the month include domestic sales of 126,031 units, sales to other OEM of 4,838 units and its highest ever monthly exports of 22,280 units.”

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