Maruti Suzuki plans to increase the prices of its vehicles in the July-September quarter as the company has to deal with high input costs. In a regulatory filing, the company said that in the entire last year, the cost of the company’s vehicles continued to be adversely impacted due to the rise 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 further added that the price rise has been planned for 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.