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Last Updated : Dec 03, 2019 12:10 PM IST | Source: Moneycontrol.com

Maruti Suzuki to increase prices from next month, stock gains

The increase will vary for model to model, Maruti has said.

 
 
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Maruti Suzuki India share price gained 1.3 percent intraday on December 3 after the carmaker decided on an across-the-board increase in prices from January 2020.

The stock has rallied 19 percent in the last three months. It was quoting at Rs 7,176.85, up Rs 39.40, or 0.55 percent, on the BSE at 1133 hours.

Over the past year, the cost of vehicles has been hit due to increase in various input costs, the country's largest carmaker said in a BSE filing.

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It has hence become imperative for the company to pass on some of the impact of the additional cost to customers through a price increase across various models in January 2020, it added.

The price increase will vary for model to model.

The company sold 1,50,630 vehicles in November 2019, 1.9 percent lower when compared to the same period last year.

Domestic sales during the month declined 1.6 percent to 1,43,686 vehicles YoY, while exports dropped 7.7 percent to 6,944 units YoY.

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First Published on Dec 3, 2019 12:10 pm
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