The Business Bytes
TBB BUREAU
NEW DELHI, JUNE 21, 2021
The country’s largest automobile maker Maruti Suzuki India (MSI) on Monday said it will hike prices of its cars in the second quarter (Q2) of the current fiscal due to increase in the input costs.
However, it did not reveal the quantum of the proposed price hike.
“Over the past year, the cost of the company’s vehicles continues 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,” the country’s largest automobile maker said in a regulatory filing.
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.
Maruti Suzuki India sells a range of models from entry-level hatchback Alto to S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom prices Delhi), respectively.
