Maruti Suzuki to raise prices next quarter

The country’s largest carmaker Monday said it will raise prices across its range of vehicles in the upcoming quarter to offset an increase in input costs.

“This is to inform you that 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 said in a statement to the bourses.

The price rise has been planned in second quarter and shall vary for different models. The company did not specify the quantum of the hike.

This is the third time this year that the company will be raising vehicle prices due to a rise in commodity costs. Maruti Suzuki had previously increased prices in April and January 2021.