By Malvika Gurung
Investing.com -- The country’s largest car manufacturer Maruti Suzuki (NS: MRTI ) India has announced to increase the prices of its vehicles, starting January 2022, on Thursday, due to rising input cost pressures.
The company stated that the price hike would vary across different models. This would be the carmaker's fourth price in the past year, of about 1.4% in January, 1.6% in April, and 1.9% in September.
The carmaker informed earlier that it had not entirely passed the increase in input costs to consumers despite hiking the prices thrice under a year. It is imperative for the company to pass on the impact of the rise in various input costs to the customers, added the car manufacturer.
MSI’s total sales for Nov 2021 declined by 9.2% on a YoY basis to 139,184 units, while its total export sales surged 137.5% to 21,393 units for the month on a YoY basis.
In a notification to the exchanges on Tuesday, the carmaker informed that it could face an impact on vehicle production in December 2021, at its Haryana and Gujarat production units due to a slump in global auto chips.
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