Maruti Suzuki, India’s largest carmaker, announced on Thursday that prices will rise in January 2022 as a result of rising input costs. The price increase would be different for different models, according to the business.
“Increases in various input costs have continued to negatively effect the cost of the Company’s cars over the past year.” As a result, the Company must pass on part of the aforesaid increased costs to customers through a price increase,” Maruti said in a stock exchange filing today.
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The manufacturer has been boosting prices of several models on a regular basis, with price hikes announced in September, July, and March of this year.
Meanwhile, due to continued semiconductor shortages, Maruti recently announced that vehicle output at two of its manufacturing plants in the country could be around 80% to 85% of normal capacity in December.
Maruti Suzuki’s newest production caution is the company’s third in less than six months, with comparable output drops in September and October. Rising input costs have also taken a toll on the automaker, which has announced price hikes across the board multiple times this year.
In Thursday’s trades, Maruti Suzuki shares were trading marginally down at 7,264 per share on the BSE.
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