NEW DELHI- The country’s largest carmaker Maruti Suzuki India (MSI) on Thursday said it is planning to increase vehicle prices from January next year to offset the impact of the rise in input costs.
The price increase would vary from model to model, the auto major said, without sharing the details.
“Over the past year, the cost of company’s vehicles continue to be adversely impacted due to increase in various input costs.
Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike,” MSI said in a regulatory filing.
The price rise has been planned for January 2022, and the increase shall vary for different models, it added.
The company sells a range of models, starting from hatchback Alto to S-Cross SUV in the country.
Meanwhile, German luxury carmaker Audi also announced a price increase of up to 3 per cent across its entire model range, effective from January 1 next year, owing to a rise in input and operational costs.
The company currently sells models like A4, A6, A8 L, Q2, Q5, Q8, S5 Sportback, RS 5 Sportback, RS 7, RS Q8, e-tron 50, e-tron 55, e-tron Sportback 55, e-tron GT and RS e-tron GT in the country.
“The Audi India strategy focuses on a sustainable business model. To offset rising input and operational costs, a price correction is necessary.
“The new price range of our select vehicles will ensure the brand’s premium price positioning thereby, assuring sustainable growth both for the brand and our dealer partners,” Audi India Head Balbir Singh Dhillon said in a statement.
Continuing focus on customer centricity, the company has ensured that the impact is as minimal as possible, he added.
Audi India has launched nine new products in 2021, including five all-electric cars.
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