Mumbai/IBNS: India's largest carmaker by volumes Maruti Suzuki India Ltd will raise the prices of different car models from next month due to a rise in input costs, media reports said.
"Over the past year the cost of company's vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in April, 2021. This price increase shall vary for different models," Maruti Suzuki said in a communication to exchanges, said a Mint report.
In January, Maruti Suzuki India (MSI) had raised prices of some car models, citing increase in input costs.
In February, Maruti Suzuki India (MSI) sold 1,44,761 units, an increase of 8.27 per cent from the same month last year.
Maruti's consolidated net profit rose by 26% to Rs 1,996.7 crore for the December quarter, driven by higher sales. Its net profit stood at Rs1,587.4 crore in the October-December quarter of the last fiscal. The auto major reported an increase of 13 per cent in total revenue to Rs 23,471.3 crore for the third quarter.