By Maruti Suzuki, the largest car manufacturer in India, has announced that it will be increasing the prices of its model range in April. The price hike comes as a result of “overall inflation and regulatory requirements,” according to a regulatory filing by the company. While the quantum of the price hike has not been disclosed, Maruti Suzuki has stated that it has become necessary to partially offset the increased costs.
The Indian automobile industry is currently working towards meeting the second phase of BSVI emission norms, which comes into effect from April 1. As part of this, vehicles will need to have an on-board self-diagnostic device to monitor real-time driving emission levels. The device will constantly monitor key parts for meeting emission standards, such as the catalytic converter and oxygen sensors, to keep a close watch on emissions.
Several other automakers, including Honda Cars, Tata Motors, and Hero MotoCorp, have also announced price hikes from April. This move by automobile companies is aimed at offsetting the rising input costs due to increased inflation and compliance with regulatory norms. It remains to be seen how customers will react to the price hikes, given that the Indian automobile industry is already facing a slowdown due to various factors, including the ongoing pandemic.