Maruti Suzuki is planning to hike prices in April 2023, the company announced through an exchange filing. The advanced intimation follows the decision of Hero MotoCorp to increase the cost of its motorcycle and scooter.
The company said that it continues to witness increased cost pressure driven by overall inflation in addition to the regulatory requirements. Maruti Suzuki is making maximum effort to reduce cost but now the company feels it is imperative to pass some of the impact through a price increase.
The company had increased the price of Ignis on February 24 and in January it said that the cost of its cars would be increased by 1.1 per cent.
Maruti Suzuki shares
The shares of Maruti Suzuki on Thursday at 12:36 pm IST were at Rs 8,354.90, up by 1.24 per cent.
