Maruti Suzuki, a prominent player in India's automotive industry, recently disclosed its decision to raise car prices starting January 2024. Citing escalated input costs, the leading car manufacturer notified stock exchanges of its forthcoming price adjustments.
In a regulatory filing, Maruti Suzuki acknowledged its continuous efforts to curtail costs. Despite these efforts, the company expressed the likelihood of passing on a portion of the cost increment to consumers due to the heightened input expenses.
The impending price hike, set to take effect in the new year, will vary across different car models offered by Maruti Suzuki. However, the company refrained from specifying the exact extent of the anticipated price surge.
This announcement follows a similar move made earlier in April this year when Maruti Suzuki implemented a price hike across its entire lineup of car models.
The decision to increase prices stems from the automotive giant's endeavor to navigate the challenges posed by increased input costs, demonstrating its commitment to maintaining a sustainable operational framework in a dynamic market environment.
(With Agency Inputs)
ALSO READ | Automobile Industry Optimistic About Strong Demand During Dhanteras and Diwali
ALSO READ | Maruti Suzuki Q2 profit vrooms to Rs 3,716.5 cr
