Maruti Suzuki to hike vehicle prices from next month as input costs rise
Premium- Maruti Suzuki said that the price hike shall vary for different models
India's top carmaker Maruti Suzuki on Thursday announced that the company will increase prices in January 2022 due to increase in various input costs. The company said that the price hike shall vary for different models.
“Over the past year, the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike," Maruti informed in an exchange filing today.
The automaker has been on a continuous spree of increasing prices of various models with the company announcing price hikes in September, July and March this year as well.
Meanwhile, Maruti company had recently informed that vehicle production at two of its manufacturing locations in the country could be around 80% to 85% of normal capacity in December due to the ongoing semiconductor shortages.
Maruti's latest production warning has been the third one in less than six months, with the company flagging similar output falls in September and October. The carmaker is also tackling a hit from rising input costs, and has announced price hikes across models several times this year.
Shares of Maruti Suzuki were trading marginally lower at ₹7,264 apiece on the BSE in Thursday's deals.
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