India’s top carmaker Maruti Suzuki on Thursday announced that the company will increase prices in January 2022 due to increase in various input costs. The company said that the price hike will be different for different models.
“In the last one year, the cost of vehicles of the company is being adversely affected due to increase in various input costs. Therefore, it has become imperative for the company to pass on some of the impact of the above additional costs to the customers by way of price hike,” Maruti informed in an exchange filing today.
The company has been continuously increasing the prices of various models with the announcement of price hikes in September, July and March this year as well.
Meanwhile, Maruti had recently informed that vehicle production at its two manufacturing locations in the country could be around 80% to 85% of normal capacity in December due to the ongoing semiconductor shortage.
Maruti’s latest production alert is the third in less than six months, with the company marking similar production in September and October. The carmaker is also dealing with a hit from rising input costs, and has announced price hikes across models several times this year.
Maruti Suzuki shares were trading on a slight decline 7,264 on BSE in Thursday’s deals.
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