Maruti Suzuki said that it will hike the prices of its vehicles from January next year. It added that cost of vehicles have been adversely impacted due to COVID and hence the impact will be passed on to customers. The auto giant had increased prices in September, and before that in April and January.
“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,” it stated in a filing on Thursday.
“The price rise has been planned in January, 2022. The increase shall vary for different models,” said Maruti Suzuki.
While the quantum of the hike is yet to be disclosed, the company had increased prices by 1.9 per cent in the last hike.
Even for the September increase, Maruti Suzuki had cited the adverse impact of the pandemic on vehicle costs and reasoned that the impact would be passed on to customers.
The announcement comes after the company stated that it will increase the prices of EECO (all non-cargo variants) by Rs 8,000 due to the introduction of the passenger airbag. "This is to inform you that effective from today i.e. 30th November 2021, the company announced a price increase of Rs 8000/- in EECO (all non-Cargo variants) owing to the introduction of Passenger Airbag," the company had announced.
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