The country's largest car maker Maruti Suzuki India on Tuesday said it will increase prices of its vehicles from January to offset rising input costs. This is the usual trend during the early part of every year, which allows the companies to sell its existing stock at discounted prices, in order to clear its production inventory.
Over the past year, the cost of company's vehicles has been impacted adversely due to increase in various input costs, Maruti Suzuki India said in a regulatory filing.
"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 2020," it added.
This price increase shall vary for different models, the company said.
The company offers its cars ranging from Rs 2.89 lakh for the Alto, going up to Rs 11.47 lakh for the XL6 MUV (all ex-showroom prices).
However, it’s unlikely that Maruti Suzuki will be the only manufacturer to revise prices of car models for the upcoming year. Hyundai, Kia, Honda and Mahindra among others will also be making similar announcements in the coming days.
Speaking of buying on discounts at the end of year, there are distinct advantages to going car or bike shopping in December because you can really drive a hard bargain. You can read more about the benefits of buying during this period with our piece over here.
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