The cost of company's vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates.
New Delhi: Maruti Suzuki India on Wednesday said it will increase prices of its vehicles across various models from next month to offset adverse impact of increase in commodity prices and foreign exchange rates.
The company, however, did not specify by how much the prices of its vehicles would increase. At present, the company is working out the range, a company official said.
"The cost of company's vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates," Maruti Suzuki India said in a regulatory filing. It further said, "Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2019."
This price increase shall vary for different models, it added. At present, Maruti Suzuki sells a range of vehicles starting from entry-level Alto800 to the premium crossover S-Cross priced between Rs 2.53 lakh and Rs 11.45 lakh.
Yesterday, utility vehicle maker Isuzu Motors India on Tuesday said it will hike prices of vehicles by up to Rs 1 lakh from January to offset increasing input and distribution costs.
Last month, Toyota Kirloskar Motor had announced that it would increase prices of vehicles across models by up to 4 per cent from January 1, 2019, to offset increasing manufacturing costs due to rupee depreciation.