Maruti Suzuki Increases Price Of Swift, All CNG Cars; Shares Rise Over 1%
The country’s largest car maker – Maruti Suzuki – on Monday increased price of its popular car brand Swift and all CNG variants by up to Rs 15,000 (Ex-showroom price Delhi) citing a rise in various input costs. The company added that price increase in other models is also planned shortly and will be intimated accordingly.
Maruti Suzuki undertook the fifth price hike of the year after it increased car prices on June 21.
Auto makers across the world have been hit hard by shortage of semiconductors and rising metal prices in international markets which has led to price hikes, analysts said.
Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cellphones to various other electronic items.
The usage of semiconductors in the auto industry has gone up globally in recent times with new models coming with more and more electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems.
Following this development, Maruti Suzuki shares traded 1 per cent higher at Rs 7,500, outperforming the Sensex which was up 0.5 per cent.