Maruti Suzuki, India's largest carmaker, has announced to increase prices across segments with effect from January 2022. This is the fourth price hike for the auto maker that is seeing cost pressures as commodity prices rise and new norms kick in raising investments as well.
In a statement to the exchanges Maruti said that "the cost of company's vehicles continue to be adversely impacted due to an increase in various input costs. Therefore, it has become imperative to pass on some impact of the above additional costs."
Increasing prices at the beginning of the year is a practice many carmakers have adopted and this year most are expected to steep hikes as the CAFE 2 norms which require carmakers to reduce their average corporate CO2 emissions are slated to come into effect from August 2022.