Maruti Suzuki India has announced in a notice on Thursday that the company is going to increase the prices of its vehicles.
Maruti Suzuki said in a statement "The Company continues to witness increased cost pressure driven by overall inflation and regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase. The Company has planned this price increase in April, 2023 which shall vary across models."
Automobile manufacturers have been raising prices due to the increase in the cost of materials required for car manufacturing. In April Indian automakers have to follow and make vehicles under the norms of the phase II of Bharat Stage 6 standards so the pollution in the country can be reduced to some extent.
This is Maruti’s second price hike in this year. Tata Motors has also announced an increase in the price of commercial vehicles by 4 per cent.