Maruti Suzuki shares rose 5.5 percent to Rs 7,299 on the BSE in intra-day trade on Tuesday after automobile maker Maruti Suzuki India on Monday said it will hike prices of its cars in the second quarter of the current fiscal due to an increase in the input costs. Maruti Suzuki has not specified the extent of the price hike yet.
“Over the past year, the cost of the company's vehicles continues to be adversely impacted due to an increase in various input costs. Hence, it has become imperative for the company to pass on some impact of additional cost to customers through a price rise. The price rise has been planned in quarter 2 and the increase shall vary for different models,” Maruti Suzuki said in a statement.
On January 18 this year, the automaker had announced a price hike of select models by up to Rs 34,000 due to a rise in input costs. On April 16, Maruti Suzuki announced the weighted average price increase in ex-Showroom Prices (Delhi) across models of 1.6 percent.
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