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The country’s largest automobile maker Maruti Suzuki India Ltd (MSIL) on Monday said it will hike prices of its cars in the second quarter of the current fiscal due to increase in input costs.
"Over the past year, the cost of the company's vehicles continue to be adversely impacted 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 rise," Maruti Suzuki India said in a regulatory filing.
Also read: Maruti Suzuki, Toyota scrappage centre set to kick-start next month
The company did not reveal the quantum of the proposed price hike.
The price rise has been planned in the second quarter (July-September period) of the current financial year and the increase shall vary for different models, the company added.
On April 16, Maruti Suzuki announced the weighted average price increase in ex-showroom prices (Delhi) across models at 1.6 per cent.
On January 18 this year, the automaker had announced price hike of select models by up to ₹34,000 due to rise in input costs.
MSIL sells a range of models, from the entry-level hatchback Alto to S-Cross, priced between ₹2.99 lakh and ₹12.39 lakh (ex-showroom prices, Delhi), respectively.
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