Maruti Suzuki planning to increase prices of entire product portfolio in second quarter

Maruti Suzuki India is planning to increase prices of its entire product portfolio in the second quarter of the current fiscal due to rise in prices of various essential commodities, including steel. The company, which has already taken a price increase in April this financial year, noted that the price of steel and various precious metals has gone up considerably prompting the company to pass on some of the impact to the customers.

The prices of steel and precious metals like Rhodium and Palladium have gone up substantially. The price of steel has gone up from Rs 38 per kg to Rs 68 per kg while that of Rhodium has gone up from Rs 19,000 per gram to about Rs 66,000 per gram thus impacting the production cost.

Maruti Suzuki India (formerly known as Maruti Udyog) is an automobile manufacturer in India. It provides passenger cars, utility vehicles and vans. The firm also offers pre-owned car sales, fleet management and car financing services.