The country's largest car maker Maruti Suzuki India on Tuesday said it will increase prices of its vehicles from January to offset rising input costs.
Over the past year, the cost of company's vehicles has been impacted adversely due to increase in various input costs, Maruti Suzuki India said in a regulatory filing.
"Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020," it added. The news comes as the company on Sunday reported a 1.9 per cent decline in sales at 1,50,630 units in November compared to 1,53,539 units sold in the same month last year. Domestic sales declined by 1.6 per cent at 1,43,686 units last month as against 1,46,018 units in November 2018. Exports also were down by 7.7 per cent at 6,944 units in November as against 7,521 units in the corresponding month last year.
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This price increase shall vary for different models, the company said.
Currently the company sells a range of vehicles starting from entry-level small car Alto to premium multi purpose vehicle XL6 with price ranging from Rs 2.89 lakh to Rs 11.47 lakh (ex-showroom Delhi).
(With PTI inputs)
