Automaker Maruti Suzuki India Ltd to hike prices for some car models. The reason behind the hike is the impact of rising costs.
Maruti Suzuki made the announcement on Monday. This decision comes after rival Mahindra and Mahindra Ltd increased prices of its personal and commercial vehicles by 1.9% this month due to higher commodity prices and input costs. The corona pandemic has already hit Indian automakers. After carmakers have resumed operations and seen demand return during India's festive season in October-November, but have warned of demand uncertainties ahead.
The company said that the price hikes of up to 34,000 rupees ($464) will take effect from Monday,without specifying the planned increases for individual models. Last January, Maruti increased prices on some car models by up to 4.7%.