The nation’s largest automotive maker – Maruti Suzuki – will undertake worth hikes on the again rising enter prices and the value will increase shall range for various fashions, the Gurugram-based firm mentioned in a inventory trade submitting.
“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 in April, 2021,” Maruti Suzuki mentioned in a inventory trade submitting.
In January, rival Mahindra and Mahindra elevated costs of its private and industrial automobiles by 1.9 per cent, whereas Tata Motors raised costs for its passenger automobiles by as much as Rs 26,000.
In January, Maruti had cited an increase in enter prices and mentioned it’s going to hike worth as much as Rs 34,000 on some automotive fashions.
Auto sector was already seeing weak demand and better prices when the COVID-19 pandemic dealt a blow final March.
Since then, carmakers have seen demand return however have warned about uncertainties forward. Several carmakers have elevated costs this yr to maintain up with rising prices.