Mumbai: Automobile manufacturer in India, Maruti Suzuki on Wednesday said it would raise prices of various models in January 2019 due to high commodity prices and foreign exchanges rates.
The increase in prices would vary for different models, the company said in a regulatory filing to the BSE.
“Over the past year, the cost of company’s vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates, etc. Hence, it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2019,” the filing said.
Shares of Maruti Suzuki on the BSE settled at Rs 7,559.55 per share, higher by Rs 165.20 or 2.14 per cent from the previous close.
Automobile major Maruti Suzuki India on Saturday reported a decline of 0.7 per cent in its total sales including exports for November.
Maruti Suzuki going to increase prices of its all car models in January:
According to Maruti Suzuki India, a total of 153,539 units were sold last month, compared to 154,600 units’ off-take recorded during the corresponding period of the last financial year.
However, the company’s domestic sales rose 0.5 per cent on a year-on-year basis to 146,018 units in November.
Although, the domestic passenger vehicles sales dipped 0.3 per cent to 143,890 units, the company’s sales of light commercial vehicles in the country rose 112.2 per cent to 2,128 units.
On the other hand, exports slumped 19.1 per cent to 7,521 vehicles.
So far, in the financial year 2018-19, the company has sold a total of 12,75,632 units, which is 7.4 per cent higher than 1,187,735 units off-take during the corresponding period of last fiscal.
