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Maruti Suzuki India to hike prices from Jan; quantum yet to be decided

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Car market leader Maruti Suzuki India has said it will increase prices of its vehicles from January to offset the adverse impact of rising input costs. Over the past year, the cost of the company's vehicles have been impacted adversely due to an increase in various input costs, Maruti Suzuki India said in a regulatory filing.

Car market leader Maruti Suzuki India has said it will increase prices of its vehicles from January to offset the adverse impact of rising input costs. Over the past year, the cost of the company's vehicles have been impacted adversely due to an increase in various input costs, Maruti Suzuki India said in a regulatory filing.
CNBC-TV18’s Parikshit Luthra spoke to Shashank Srivastava, ED-marketing & sales at Maruti to understand the quantum of these hikes as well as the current demand picture.
“The quantum of the price hikes is still being discussed because that will vary from model to model. Largely the input cost increases have been because of steel as well as the precious metals. When we shifted from BS-IV to BS-VI the precious metals component consumption has increased so that is one of the reasons that demand these metals are gone up in the market worldwide,” he said.
On pent up demand Srivastava said, “It is possible that the pent-up demand still exists, but one thing which we are clearly seeing is that the long term steady-state demand would depend on the fundamentals of the economy and the COVID sentiments. Retail demand is still 15 percent lower than last year.”
On inventory, he said, “Discounts will be lesser compared to last year and this applies across the industry. Inventory levels are lower this year and give an indication of the supply-demand gap which determines the discount levels.”
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Grasim1,549.50 -32.55 -2.06
Larsen1,611.75 -30.40 -1.85
Adani Ports680.05 -11.75 -1.70
Tech Mahindra1,131.00 -17.60 -1.53
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