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Friday, April 12, 2024

Maruti Suzuki to hike vehicle prices this month

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The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range this month amid rise in input costs.

Over the past year, the cost of company’s vehicles continued to be adversely impacted due to increase in various input costs, the auto major said in a regulatory filing.

“Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike,” it added.

The company has planned to increase the prices in April and the hike will vary for different models.

However, the company did not disclose the quantum of the proposed price hike.

MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to constant increase in input costs.

The company sells a range of models starting from Alto to S-Cross in the domestic market.

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