Starting January 2022, Maruti Suzuki India will be increasing the prices of its vehicles. MSIL informed that over the past year, due to an increase in various input costs, the cost of its vehicles remains to be adversely impacted. Therefore, it has become necessary for them to pass on some impact of the additional costs to customers by a price increase.

According to the company, the price hike has not been determined yet. The price hike has been planned for January 2022. The hike shall vary for different models. The company had reported a 66 percent YoY decline in net profit to ₹487 crores for the quarter ended-September 30, as compared to the net profit of ₹1,419 crores in the corresponding period the previous year. It had further added that it has been affected by electric component shortages and a surge in commodity prices. MSIL announced that this quarter was marked by an abnormal increase in the prices of commodities such as steel, aluminum, and precious metals within one year. The company told that it made maximum efforts to absorb increases in input costs, offsetting them through cost reduction, and passed on least impact to customers by the way of car price increase, adding that there was a drop in its net profit due to this.

Apart from that, the company, on Wednesday reported a decline in sales in November on a YoY basis. It reported a decline of 18 percent YoY in its domestic wholesales to 1,09,726 units in November as compared to 1,35,775 units in the corresponding month last year.