Country’s largest passenger vehicle maker Maruti Suzuki India (MSIL) on Thursday 23 March said the company will increase the prices of its products effective April 1, owing to the overall inflation and regulatory requirements.
However, the company has not disclosed the quantum of price increase, in each segment or variant.
“The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase,” MSIL said in a filing to stock exchange.
“The company has planned this price increase in April, which shall vary across models,” it added.
With the new norms coming in from next month including BS6 phase-II and real driving emission (RDE), other manufacturers are also expected to follow the suit and some others have already announced earlier this month.
For instance, Honda Cars India also said that it will increase the prices of its products to offset the impact of increase in production cost owing to upcoming stricter emission norms from next month.
Mercedes-Benz India, on March 9, had said the price correction will be up to five per cent effective April 1 because of ‘strong movement in forex’ and rising input cost have been the primary reason for price correction.