Maruti might hike prices of their cars as well

Maruti might hike prices of their cars as well

India’s largest automaker Maruti Udyog has said that they would soon review the market situation and decide on whether to hike the prices of their models or not. Hyundai has already confirmed their decision to raise the prices of their cars.

Maruti is due to review hiking car prices after June 24 as the recent news events has resulted in significant rise in input costs. The Indian government recently announced a massive increase in the fuel prices and this adds on to the pressures on the auto sector.

Maruti’s manufacturing operations are due to be closed for a week for the bi-annual maintenance shutdown from June 19-24. The decision to hike the prices would be taken after that. The company is actively monitoring the situation in the market to see the possibilities in front of them.

The company said in a statement: “Costs of inputs, including certain commodities and fuels, have gone up significantly in the recent past.”