Maruti Suzuki has stated that beginning the following month, all of its model range will see price increases. The choice, which was made public on Thursday in a regulatory filing, aims to lessen the effects of rising inflation and regulatory requirements. The automaker hasn’t yet specified the precise percentage of the price increase it plans to implement, though.
Maruti Suzuki has admitted that, despite its best efforts to cut costs, it will likely be required to raise prices in order to counteract the effects of different variables. According to Shashank Srivastava, the company’s Executive Director for Marketing and Sales, “This price raise is in reaction to overall inflationary pressures as well as regulatory obligations like RDE guidelines which come into effect from April 1.”
Srivastava claims that Maruti Suzuki has enacted seven minor price increases since January 2021 as a result of growing material costs, which make up 75% of OEM cost structures. Despite these slight increases, the automaker has refrained from making large price increases because of worries about PV sector demand. The business’s cautious approach to price increases, according to Srivastava, is because the company does not want to jeopardize overall demand in the PV market.
