“Over the past year the cost of company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact ofthe above additional cost to customers through a price increase in April, 2021”, the company said in a statement to the bourses.
The company did not specify the quantum of price increase but said the hike shall vary for different models. Maruti Suzuki sells a range of models in the Indian market from small car Alto to premium crossover S-Cross.
This is the second time the company has decided to raise vehicles prices this calendar year. Earlier in January, Maruti Suzuki had hiked prices of its products by up to Rs 34,000 to partially offset the rise in commodity costs.