India's leading Automobile company Maruti Suzuki India poised to increase prices of its vehicles across various models from January to try and mitigate the effect on the increasing impact of rising input costs. In a regulatory filing the company ssaid that over the past year, the cost of the company’s vehicles has been impacted adversely due to increase in various input costs.
The company further stated that it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in January 2021. This price increase shall vary for different models This announcement of carmaker comes at a time when the auto major is recovering from the coronavirus-induced disruptions. In November, the company reported a growth of 1.7 per cent in its overall sales during on a year-on-year basis. The carmaker sold 1,53,223 units of vehicles last month, against 1,50,630 units sold in November 2019.
Chairman pf Maruti Suzuki India RC Bhargava told earlier this month told Bloomberg Television that the company was expecting sales in December to be “pretty good" because of pending orders with its dealerships and the "rate of enquiries has sustained even after the festive season." He admitted that 2020 hasn’t been a good year for the company as it las firt season. the first quarter so I definitely expect 2021 to be much better than 2020." The company operations were adversely impacted due to the countrywide lockdown earlier this year and Maruti gradually built up production and running at full capacity at present.
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