Maruti Suzuk today said it would increase prices of its various models in January to pass on the rise in input costs. The announcement of a price hike comes even as companies, including Maruti, have struggled to sell their products, owing to various reasons.
“The cost of company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020. This price increase shall vary for different models,” the company in a BSE notice.
At 12:05 pm, Maruti shares traded 0.3% higher at ₹7,161 in a weak market. The BSE Sensex was down 0.5% at 40,609.59.