Maruti Suzuki to hike vehicles prices

6 Apr 2022 , 12:20 PM

Maruti Suzuki India said that over the past year, the cost of its vehicles continue to be adversely impacted due to increase in various input costs.

Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike, the company said in a statement today, 6 April 2022.

The car major said that it has planned this price hike in April 2022 and the increase will vary for different models.

Shares of Maruti Suzuki India were down 0.20% to Rs 7745 on the BSE.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles). The auto maker recorded 48% decline in net profit to Rs 1,011.3 crore on as net sales remained flat at Rs 22,187.6 crore in Q3 FY22 over Q3 FY21.

The companys total vehicles sales rose 2% to 170,395 units in March 2022 over March 2021. Its domestic sales fell 7.4% to 143,899 units while exports soared 128% to 26,496 units during the period under review.

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