Maruti Suzuki To Hike Prices Across Models In September
India’s largest carmaker will increase prices across models from September, in a fourth such move so far this year, as input costs continue to rise.
Over the past year, the cost of vehicles has been impacted adversely due to an increase in various input costs, Maruti Suzuki India Ltd. said in an exchange filing. “It has become imperative to pass on some impact of the additional cost to the customers through a price rise.”
The company, however, is yet to share details about the quantum of the price hike it intends to take.
Shashank Srivastava, executive director at Maruti Suzuki, had last week told BloombergQuint that levels of commodity prices are quite high, and the the carmaker would have to walk the fine line between top line and bottom line.
Shares of Maruti Suzuki were trading 1.83% higher as of 11:40 a.m. on Monday compared with a 0.88% gain in the Nifty 50.