Maruti Suzuki India to hike prices to pass on input cost pressures
BENGALURU (Reuters) - Maruti Suzuki India Ltd said on Thursday it would raise prices across models come April, as high domestic inflation and new emission norms pressure the country's top car maker.
The unit of Japan's Suzuki Motor did not say how much prices of cars would go up by, or which models will be impacted.
Maruti joins rival Tata Motors and two-wheeler maker Hero Motocorp, who have also said they would raise prices by 5% and 2% respectively, as they grapple with increased costs to meet new emission norms.
India plans to implement Bharat Stage VI norms from April, which require automakers to fit their vehicles with a special device to monitor emissions, leading to extra costs.
India's total passenger vehicles sales volume grew 11% in February to a record high, the Society of Indian Automobile Manufacturers (SIAM) said earlier this month.
Meanwhile, retail inflation in India likely eased a bit last month but stayed above the Reserve Bank of India's upper threshold for a second straight month, according to a Reuters poll.
(Reporting by Aleef Jahan in Bengaluru; Editing by Dhanya Ann Thoppil and Nivedita Bhattacharjee)