Maruti Suzuki is likely to Increase Vehicle Prices this month

On Wednesday, India’s biggest automobile company, Maruti Suzuki India declared that due to the increase in input costs, it will be increasing the prices of different models this month. In a regulatory filing, Maruti Suzuki India stated: “Over the past year, the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike. We have planned this price rise in April 2022. The increase shall vary for different models." However, the carmaker did not disclose the quantum of the proposed price hike. The company has already increased its car prices by 8.8% from January 2021 to March 2022 because of the high input cost. Recently Maruti Suzuki announced that it aims to sell around 4-6 lakh CNG units in the current fiscal year depending on the supply situation of essential components. Its senior executive director, Shashank Srivastava in an interaction with PTI said: "It depends on availability (of essential components). But we are looking at any number between 4 lakh and 6 lakh units in the current fiscal.”