India’s Maruti Suzuki to hike car prices

Maruti Suzuki India, the country’s largest carmaker, announced it will increase prices from January next year to offset the impact of rising costs. The price increase would vary from model to model, the auto major said, without revealing the details.

In a regulatory filing, Maruti Suzuki said: “Over the past year, the cost of the company’s vehicles continues 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 auto major already hiked prices three times this year – by 1.4% in January, 1.6% in April, and 1.9% in September, taking the total to 4.9%.

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