Maruti Suzuki India on Monday announced an increment in rates for select models, with urgent effect, due to an increment in input costs.
In a report, the automobile major told that the rate hike is up to 4.7 per cent.
“The rate change varies over models and ranges from 0 per cent to 4.7 per cent (ex-showroom Delhi). The fresh prices are active from 27th January 2020,” it said
Last month, the company had announced that it would increase the prices in January due to a rise in input expenses.
Input and manufacturing charge in the segment has increased with new regulatory norms as the vehicle producers want to make the transition to BS-VI engines by April this year and also with the beginning of new mandatory safety commands such as the use of anti-lock braking system (ABS) and airbags.
The slump in sales in the past one year has and the final financial result also could be a reason for the cost hike.
In the current fiscal year up to December, the company sold 11.78 lakh units, around 16 per cent cheaper than 14.03 units sold when the same period (April-December) in 2018-19.