Maruti Suzuki to hike prices in April, says imperative to pass input cost pressure
Maruti Suzuki on Thursday announced that the company will be hiking prices in April 2023 owing to increased cost pressure which will be passed on through the price increase.
“The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase,” the company said in a exchange filing.
“The company has planned this price increase in April, 2023 which shall vary across models,” it added.
Auto companies have been on a price hike spree owing to consistent input cost pressures. Additionally, India will be implementing Bharat Stage 6 regulations from next month that require automakers to fit their vehicles with a device to check emissions, leading to extra costs.