The automobile major’s decision comes on the back of a rise in various input costs; however, it has not specified the models that will see their prices going up
Guwahati: Country’s largest car maker Maruti Suzuki India on Tuesday said that it will increase prices of most of its vehicles from January next year.
The car major said that the cost of vehicles has been impacted adversely due to increase in various input costs. The shares of Maruti Suzuki India fell 2.18% in the past three trading sessions.
In the past one month, shares of Maruti Suzuki India declined 3.05% to its current market price of Rs 7,195.95, outperforming the Nifty Auto index's 3.11% fall in the same period.
The price increase shall vary for different models. Currently, the company sells a range of vehicles starting from entry-level small car Alto to premium multipurpose vehicle XL6 with prices ranging from Rs 2.89 lakh to Rs 11.47 lakh.
Maruti Suzuki India sells vehicles through its Arena and Nexa channels. Among the vehicles sold through the Arena dealerships are Alto, WagonR, Celerio, S-Presso, Swift, Dzire, Vitara Brezza, Ertiga and Eeco. It sells models like Ignis, Baleno, Ciaz, S-Cross and XL6 through its Nexa dealerships.
Till now, Maruti Suzuki India has seen its overall monthly sales rising only twice during 2019 -- 4.5% in October and 0.2% in January. The sales have declined in the remaining months -- 1.9% in November, 24.4% in September, 32.7% in August, 33.5% in July, 14% in June, 22% in May, 17.2% in April, 1.6% in March and 0.8% in February.