Industry

Maruti Suzuki to increase prices from January to offset rising input costs

In this September 4, 2019 file photo, newly manufactured Maruti Suzuki cars are seen parked inside the company factory in Manesar near Gurugram.

In this September 4, 2019 file photo, newly manufactured Maruti Suzuki cars are seen parked inside the company factory in Manesar near Gurugram.   | Photo Credit: PTI

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The company did not clarify on the quantum of the increase but said it would vary for different models

Country’s largest car maker Maruti Suzuki on Tuesday said it would hike prices across its vehicle range from January 2020. The company, however, did not disclose the quantum of the increase.

“...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 of the above additional cost to customers through a price increase across various models in January 2020,” the car maker said in a communique to the stock exchanges.

While the company did not clarify on the quantum of the increase, it said it would vary for different models.

The move comes at a time when the automobile industry is dealing with a slowdown in demand.

Maruti Suzuki, which recently achieved cumulative sales of 2 million passenger vehicles in the Indian market, on Sunday had posted a decline of a little over 3% year-on-year in its wholesales units at over 1.39 lakh units for November 2019.

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Printable version | Dec 8, 2019 3:38:38 AM | https://www.thehindu.com/business/Industry/maruti-suzuki-to-increase-prices-from-january-to-offset-rising-input-costs/article30146742.ece

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