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Maruti Suzuki India says it has planned to increase the prices of its cars due to rising input costs and operational expenses.
Maruti Suzuki India says while it 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.
Maruti Suzuki India on Monday said it will hike vehicle prices by up to 4 per cent from April in order 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 per cent 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.
Shares or Maruti Suzuki India were trading 0.61 per cent up at Rs 11,578.50 apiece on BSE.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
