India’s largest carmaker to raise prices for 4th time

MUMBAI: AUGUST 30 – India’s largest car manufacturer Maruti Suzuki has planned to raise prices for the fourth time this year across models from next month, the company said on Monday.

“Over the past year, the cost of company’s vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative to pass on some impact of the additional cost to the customers through a price rise,” said the Indian subsidiary of Japan’s Suzuki.

In January, April and July this year, the company raised prices for different car models citing rising input costs by up to 458 U.S. dollars, 463 U.S. dollars and 204 U.S. dollars, respectively for some select models.

Most Indian auto companies in the recent April-June quarter reported lower operating margins due to negative operating leverage, under-recovery of raw-material costs, and COVID-related cost and salary revisions.

-Xinhua