Maruti Suzuki to hike prices in next quarter

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SME Times News Bureau | 21 Jun, 2021
Maruti Suzuki will raise prices of its vehicles during the July-September quarter due to high input costs.

In a regulatory filing, the company said that over the past year the cost of the company's vehicles continued 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," it said.

The company added that the price rise has been planned in the second quarter of this fiscal and the increase shall vary for different models.

It had earlier raised prices for different car models in April.

Several vehicle makers have raised prices amid the pandemic as input costs have increased. Further, the decline in sales amid the pandemic has also impacted the industry.

However, with the situation easing across various states, restrictions are likely to ease and automakers would move back to normalising the operations.

Around 1.36 p.m., shares of the company on the BSE were at Rs 6,894.05 crore, lower by Rs 64.65 or 0.93 per cent from its previous close.