Maruti Suzuki India To Hike Car Prices This Month
On Wednesday, India’s largest carmaker by sales volume, Maruti Suzuki, informed that it is going to hike the prices of different models this month due to rising input costs.
“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.
We have planned this price rise in April, 2022. The increase shall vary for different models,” it said in a regulatory filing.
However, the Company did not disclose the quantum of the proposed price hike.
Due to the constant increase in input costs, Maruti has already hiked vehicle prices by around 8.8 percent from January 2021 to March 2022.
The Company sells a range of models starting from Alto to S-Cross in the domestic market.
As per a senior company official, Maruti Suzuki aims to sell 4-6 lakh CNG units in the current fiscal year, depending on the supply situation of essential components.
The Company sold about 2.3 lakh CNG units in 2021-22. MSI currently sells nine of its 15 models with CNG powertrain and is looking to drive in more models with such technology in the coming days.
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