In a recent announcement, Maruti Suzuki, the leading automaker, is preparing for yet another round of price hikes for its vehicles, scheduled to take effect in January. The decision to increase prices is attributed to mounting cost pressures resulting from overall inflation and escalated commodity prices.
The company disclosed to stock exchanges on Monday that despite making considerable efforts to minimize expenses and absorb the surge in costs, there remains a need to pass on a portion of this escalation to consumers in the form of price adjustments.
Maruti Suzuki did not specify the exact amount of the price increase, instead emphasizing that it would vary across various models in its lineup. This follows a similar move by Maruti Suzuki earlier this year, when it raised car prices by 0.8% across the board.
Maruti Suzuki India Ltd.’s shares closed at Rs 10,481 as of Friday’s market close, maintaining relative stability. Notably, the shares have risen by approximately 25% this year. However, the Indian stock market was closed today in observance of Guru Nanak Jayanti.