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The country’s largest carmaker Maruti Suzuki Wednesday said it will increase prices across its range of vehicles later this month to partially offset the sharp 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”, Maruti Suzuki said in a filing on the Bombay Stock Exchange (BSE).
The statement added the company has planned this price rise in April, 2022. The increase shall vary for different models.
Maruti Suzuki has raised vehicles prices four times in the past one year due to the unprecedented rise in commodity costs. The total hike on its vehicles have been around 8.8% in this period.
Maruti Suzuki sells a range of vehicles from small car Alto to crossover utility vehicle S-Cross.
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