Maruti Suzuki To Hike Prices Of Its Entire Model Range This Month
The company, however, did not disclose the quantum of the proposed price hike. Its has already raised prices by 8.8 per cent from January 2021 to March 2022 due to constant increase in input costs
New Delhi: Maruti Suzuki, India's largest carmaker by sales volume, on Wednesday said that it is going to hike prices of different models of cars this month (April) due to rising input costs.
“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," the company said in a regulatory filing.
According to a report by the PTI, the company, however, did not disclose the quantum of the proposed price hike.
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Maruti has already raised vehicle prices by around 8.8 per cent from January 2021 to March 2022 because of constant increase in input costs.
The auto major sells a range of models starting from Alto to S-Cross in the domestic market.
Maruti Suzuki aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components, said a senior company executive.
The company sold about 2.3 lakh CNG units in 2021-22. MSI currently sells nine of its 15 models with CNG powertrain and is looking to drive in more models with such technology in the coming days.
"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," MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava told PTI in an interaction.
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