Maruti Suzuki to hike prices of model range from April

Maruti Suzuki India on Thursday said it will increase prices of its model range in April to partially offset the impact of "overall inflation and regulatory requirements". The auto major, however, did not share the quantum of the price hike it intends to implement from next month.

The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements, the automaker said in a regulatory filing.

While the company makes the maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impacts through a price increase, it added.

The company has planned this price increase in April 2023, which shall vary across models, Maruti Suzuki India stated.

Already several automakers, including Honda Cars, Tata Motors and Hero MotoCorp, have announced increases in prices from April.

The Indian automobile industry is working to make its products meet the second phase of BSVI emission norms.

From April 1, vehicles will need to have an onboard self-diagnostic device to monitor the real-time driving emission levels.

The device will constantly monitor key parts to meet emission standards, such as the catalytic converter and oxygen sensors, to closely monitor emissions.

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