Maruti Suzuki will increase the prices of all its models in September. "The price rise has been planned across models in September 2021," the auto company said in a regulatory filing to the stock exchanges, without specifying the quantum of price hike. The price hike, which is likely to take place ahead of the festive season that kicks off with Ganesh Chaturthi on September 10, will be the company's third price increase in FY21-22 after the hikes in April and July.
"We wish to inform you that 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 to pass on some impact of the additional cost to the customers through a price rise," Maruti Suzuki added.
Tata Motors, Honda Cars and Mahindra & Mahindra have raised their prices in the July-August period.
As of 1:30 pm, Maruti Suzuki shares were trading higher by 2.3 per cent at Rs 6758.90 on the BSE as against a one per cent rise in the benchmark indices.