Car maker Maruti Suzuki India has announced a price hike of select models from September. The company has informed the stock market that the prices of its vehicles will increase by up to Rs 20,000 due to increased production costs and inflationary pressures.
This is the third price hike since May. While the previous two hikes were across the company’s entire portfolio, this time the company has announced that it will be limited to select models.
Maruti Suzuki said that the company has made efforts to absorb the cost impact through internal measures. But the continuous increase in costs has increased the additional burden.
