India's largest car manufacturer Maruti Suzuki India Limited today announced that it would hike the prices of its various models in January to pass on the rise in input costs. Over the past year, the cost of the company's vehicles has been impacted adversely due to increase in various input costs, Maruti Suzuki India said in a regulatory filing.
“The cost of the 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. This price increase shall vary for different models," the company in a BSE notice said.
The announcement of a price hike comes even as various companies, including Maruti, have struggled to sell their products, owing to various reasons like a slowdown. This price increase shall vary for different models, the company said.
Currently, the company sells a range of vehicles starting from entry-level small car Alto to premium multi-purpose vehicle XL6 with price ranging from Rs 2.89 lakh to Rs 11.47 lakh (ex-showroom Delhi).