New Delhi: India’s largest automobile maker Maruti Suzuki India (MSI) on Monday said it will hike prices of its cars in the second quarter of the current fiscal due to increase in the input costs.
“Over the past year, the cost of the company’s vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise,” Maruti Suzuki India said in a regulatory filing.
The company did not reveal the quantum of the proposed price hike.
The price rise has been planned in the second quarter (July-September period) of the current financial year and the increase shall vary for different models, the company added.
On April 16, Maruti Suzuki announced the weighted average price increase in ex-Showroom Prices (Delhi) across models of 1.6 per cent.
On January 18 this year, the automaker had announced price hike of select models by up to Rs 34,000 due to rise in input costs.
MSI sells a range of models from entry-level hatchback Alto to S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 (ex-showroom prices Delhi) lakh, respectively.