The country’s largest car company Maruti Suzuki will increase the prices of its cars from next month. The company has said that it will increase the prices of its cars from the month of July. In a regulatory filing of the stock exchange, the company has said that since the cost of car manufacturing is increasing, there is no option but to pass the burden on the customers.
Maruti said, the burden of input costs will have to be borne by the customers
In a notice filed on the stock exchange on Monday, Maruti Suzuki has said that due to the increase in various input costs over the years, the cost of car manufacturing on the part of the company has also increased. Hence the customers may have to bear some of the cost of this cost. According to the company, the changes in the prices of different variants will vary. However, it has not been told by the company how much the prices will be increased. Price hike may start in the second quarter.
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Prices of Maruti cars have also increased in January and April 2021
Earlier, Maruti has increased the prices of its different models of vehicles in April 2021 citing increase in input costs. In January also the prices of cars were increased. According to different models and range, the prices were increased by up to Rs 34 thousand. Meanwhile, with the relaxation of lockdown in different cities of the country, automobile companies have started preparing to increase their production. To eliminate the backlog, companies want to bring their production to the normal level. Due to the lockdown and curfew in the second wave of Corona, many companies had to stop their production. Maruti recently said that work has started in its plants with the Corona Safety Protocol. The company said that it has started a campaign to vaccinate employees and their families. Now only 36 thousand employees have to be vaccinated.
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