New Delhi [India], November 27 : Automaker Maruti Suzuki is yet again set to increase the prices of its cars in January.
According to the automaker, the proposed hike was necessitated due to an increased cost pressure driven by overall inflation and increased commodity prices.
"While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market," the automaker informed stock exchanges on Monday.
The price increase shall vary across models, the company said, without detailing the degree of rise in the rates.
In April this year too, Maruti Suzuki hiked the prices of its cars by 0.8 per cent across the model range.
The shares of Maruti Suzuki India Ltd. closed at Rs 10,481 on Friday, largely steady. They rose about 25 per cent on a cumulative basis by far this year. The Indian stock was closed today on account of Gurunanak Jayanti.
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