Country’s largest passenger car maker Maruti Suzuki on Tuesday announced price hike across various models in January 2020.
In an exchange filing, Maruti Suzuki said that the cost of company's vehicles has been impacted adversely due to increase in various input costs.
“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,” the company statement said.
It further added that this price increase shall vary for different models.
The Indian auto sector has been severely impacted by the slowdown in consumer demand, credit squeeze, higher insurance costs and implementation of BS-VI norms.
Struggled with a wrenching slowdown, Maruti Suzuki India, on Sunday, had reported a nearly 2 percent drop in sales of its vehicles.
Total sales in November fell to 1.5 lakh units and domestic sales were down 1.6 percent at 1.43 lakh from a year ago.