Maruti Suzuki will hike the prices of its cars in the July-September quarter due to an increase in the input costs, the country's largest automobile manufacturer said in a regulatory filing on Monday.
The company, however, did not reveal the quantum of the proposed price hike. This would mark the third increase in car prices for India's largest automaker. Industry has been reeling under high input costs due to the huge rally in commodity prices.
Globally steel prices are up from $500/tonne in September to $1500/tonne now adding pressure on margins in a low demand environment for automakers. Meanwhile even the price of plastic has gone up by 60%-80%.