Maruti Suzuki announces price hike on cars from January 2022

In a letter submitted to NSE, Maruti Suzuki states that due to the increase in various input costs, the company has to pass on some impact to customers through a price hike.

Maruti Suzuki has announced to increase the prices of various models from January 2022. As per Maruti Suzuki, India's largest carmaker, the rise in input costs will be passed on to the customers through a price hike.

In a letter submitted to National Stock Exchange, Maruti Suzuki has mentioned, "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. The price rise has been planned in January, 2022. The increase shall vary for different models."

The country's largest carmaker Maruti Suzuki India witnessed a 3 per cent drop in production last month. In a regulatory filing, the auto major reported total production of 1,45,560 units in November compared to 1,50,221 units in November 2020. "The shortage of electronic components had a minor impact on the production of vehicles during the month," it noted.