India: Biggest car manufacturer to augment prices to beat input charges
( MENAFN ) On Monday, Mar. 22 India's biggest car manufacturer, Maruti Suzuki, stated in its corporate filing with the Bombay Stock Exchange that it will augment prices around its models in April to recompense the increasing input charges.
The Indian subsidiary of Japanese auto top Suzuki noted in its filing: "over the past year the cost of 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 in April, 2021."
During the first month of the year, Maruti Suzuki together with other auto firms had reported increasing input cost to augment prices on a number of its models.
The country's auto industry was already in the middle of a weak demand before the coronavirus pandemic erupted in March 2020, but has witnessed a demand recovery in the last few months.
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