Maruti Suzuki to hike vehicle prices by up to 4% from April
In light of rising input costs and operational expenses, the company has planned to increase the prices of its cars from April
Maruti Suzuki India on Monday said it will hike vehicle prices by up to 4% from April to offset the impact of rising input costs.
In light of rising input costs and operational expenses, the company has planned to increase the prices of its cars from April, the country's largest carmaker said in a regulatory filing.
The price increase is expected to be up to 4% and will vary depending on the model, it added.
While the company continuously strives to optimise costs and minimise the impact on its customers, some portion of the increased cost may need to be passed on to the market, it noted.
Maruti Suzuki sells models ranging from the entry-level Alto K-10 to a multiple purpose vehicle Invicto in the domestic market.
In January, the company had announced to hike prices by up to Rs 32,500 across various models from February 1.
Other car makers including Hyundai Motor India, Honda Cars India and Mahindra & Mahindra have also hiked prices of its vehicles. Luxury car marker Mercedes Benz also announced a 3% price hike across all its models in January.
These companies have also cited rising input costs as a result of inflation and increased commodity prices.
Shares of Maruti Suzuki India were trading 0.61% up at Rs 11,578.50 apiece on BSE.
(With inputs from PTI)
