Country’s largest passenger vehicle maker Maruti Suzuki India (MSIL) on Thursday said the company will increase the prices of its products effective April 1, owing to the overall inflation and regulatory requirements.
However, the company has not disclosed the quantum of price increase, in each segment or variant.
“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,” MSIL said in a filing to stock exchange.
“The company has planned this price increase in April, which shall vary across models,” it added.
With the new norms coming in from next month including BS6 phase-II and real driving emission (RDE), other manufacturers are also expected to follow the suit and some others have already announced earlier this month.
For instance, Honda Cars India also said that it will increase the prices of its products to offset the impact of increase in production cost owing to upcoming stricter emission norms from next month.
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“We will increase Amaze prices by up to ₹12,000 with effect from April 1 to factor in the rise in the production cost due to the upcoming stringent emission norms,” Kunal Behl, Vice-President — Marketing & Sales, Honda Cars India, said.
Mercedes-Benz India, on March 9, had said the price correction will be up to five per cent effective April 1 because of ‘strong movement in forex’ and rising input cost have been the primary reason for price correction.
“The price hike is from ₹2 lakh for the A-Class/ GLA to ₹12 lakh for the top-end Mercedes Maybach S580,” it had said.
In the two-wheeler segment, Hero MotoCorp on Wednesday announced that it will make an upward revision in the ex-showroom prices of its select motorcycles and scooters, by around two per cent, effective from April 1. The price revision has been necessitated mainly due to cost increases on account of on-board diagnostics (OBD 2) transition, it had said.
The OBD device will constantly monitor key parts for meeting emission standards, such as the catalytic converter and oxygen sensors, to keep a close watch on emissions.
Honda Motorcycle and Scooter India is also expected to announce the price in the coming days.
In the commercial vehicles segment, Tata Motors on Tuesday had said that it will be increasing the prices of its products by up to five per cent from April 1, to comply with the more stringent BS6 phase II emission norms.
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