File photos have been used for representation only. Maruti Suzuki did not share the quantum of the price hike, which it plans to implement from next month. , Photo Credit: PTI
Maruti Suzuki India on Thursday said it will increase prices of its model range in April to partially offset the impact of “overall inflation and regulatory requirements”.
The auto major, however, did not share the quantum of the price hike that will be implemented from next month.
The auto maker said in a regulatory filing that the company is witnessing an increase in cost pressures driven by overall inflation and regulatory requirements.
While the company makes maximum efforts to reduce costs and partially offset the increase, it has become imperative to pass on some of the impact through price increases.
Maruti Suzuki India said that the company has planned this price hike in April, 2023, which will vary by model.
Several automakers including Honda Cars, Tata Motors and Hero MotoCorp have already announced a price hike from April.
The Indian automobile industry is currently working to make its products meet the second stage of BSVI emission norms.
From April 1, vehicles will be required to have on-board self-diagnosis equipment to monitor real-time driving emission levels.
The device will continuously monitor to meet the emission standards like catalytic converter and oxygen sensor to keep a close watch on the emissions.