Mumbai: Price of Maruti Suzuki vehicles is likely to increase from July onwards - the second quarter of the new fiscal.
In a communication, Maruti Suzuki said that price of several key models is set to rise. It did not elaborate on accurate increase or specific models that will see a price rise but said that the move was necessitated owing to rising costs.
"This is to inform you that over the past year the cost of the Company's vehicles continue to be adversely impacted 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 rise," said the note.
"The price rise has been planned in quarter 2 and the increase shall vary for different models," added the note.
Soon after the announcement, MSIL stocks slipped in the marginally to quote Rs 6,890.70 a piece -- down by 68 points or 0.98 percent in the trading session on Monday.