Maruti Suzuki India (MSI), India’s largest carmaker on Wednesday informed that it is going to hike the prices of different models this month amid rise in 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,” it said in a regulatory filing.
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However, the company did not disclose the quantum of the proposed price hike.
Maruti has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to constant increase in input costs. The company 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, as per a senior company official.
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.
