India’s largest car maker by sales volume, Maruti Suzuki on Saturday implemented the fourth price hike of this financial year citing rising input costs.
Prices of all models will go up by 1.7% on weighted average basis, the company said in a notice to the stock exchanges.
This is the fourth such price hike from Maruti Suzuki in FY22. Prices of select Maruti Suzuki cars went up by 1.6% in April and 1.9% in September. In July, the company took a price hike on its popular model Swift and all the CNG-equipped variants of all models by up to Rs 15,000.
The company accounts for one in every two cars sold in India and the market usually follows its cues on pricing. Rising costs of commodities like metals over the past year has put increase pressure on the margins of manufacturers, leading them to pass these costs on to consumers.
The stock of Maruti Suzuki closed marginally higher at Rs 8082.15 per share on the BSE on Friday.