Maruti Suzuki, India's largest auto manufacturer, is set to increase vehicle prices from January 2020. The price hike has been necessitated on account of increase in input cost, the company said.
Besides, the auto major said the "price increase shall vary for different models".
"Over the past year, the cost of the company's vehicles has been impacted adversely due to increase in various input costs," it said in a regulatory filing.
"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 2020."
This has been a difficult year for automobile manufacturers in the country with most major automakers reporting decline in sales. Following a brief uptick in sales in October, the sales plummeted again last month.
Maruti Suzuki reported a nearly 2 percent drop in sales of its vehicles in November as the country’s biggest carmaker by market value struggled with a wrenching slowdown, one of the worst in the industry’s history.
With IANS inputs