Maruti Suzuki to raise price of most cars by 2020
India's biggest passenger car manufacturing company Maruti Suzuki India has decided to increase prices across various models from January 2020. The company has said the decision to increase prices was taken over rising input costs over the past year. In a statement to stock exchanges, Maruti Suzuki said the price increase will vary for different models.
"You are kindly informed that over the past year, the cost of the company’s vehicles has been impacted adversely due to increase in various input costs. 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. This price increase shall vary for different models."
The Indian auto sector has been facing a huge downturn for over one year now.