With rising input costs due to the rise in commodity prices, India’s largest carmaker Maruti Suzuki has informed BSE on Thursday that it would be increasing the price of its cars from January 2022.
In a statement, the company said that the cost of the company’s vehicles continues to be adversely impacted over the past year due to an increase in various input costs. Therefore, it has become imperative for the company to pass on some impact of the additional costs to customers through a price hike.
“The price rise has been planned for January, 2022. The increase shall vary for different models,” it added.
In the year 2021, the carmaker hiked prices in the months of January, June and September.
It is further expected that other carmakers will also follow the market leader as the prices of essential commodities such as steel, copper, precious metals, and aluminum have increased substantially in the recent past.