Maruti Suzuki India Ltd., the country largest carmaker, will increase prices across its model range amid rise in input costs.
Over the past year, car prices continued to be adversely impacted due to increase in various input costs, the company said in an exchange filing on Tuesday. "Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike," the statement read.
Maruti Suzuki has planned to increase the prices in April and the hike will vary for different models. It, however, did not disclose the quantum of the proposed price hike. It had hiked vehicle prices by around 8.8% from January 2021 to March 2022 owing to constant increase in input costs.
The company sells a range of models starting from the entry-level Alto to the top-end S-Cross in the domestic market.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
