Maruti Suzuki, India’s largest carmaker, said Tuesday it will increase prices across its vehicle lineup by up to 30,000 rupees ($312) from August, citing persistent cost pressures.
The increase marks the company’s second portfolio-wide price rise in about two months. Maruti Suzuki previously announced a similar increase of up to 30,000 rupees effective from June, while offering price protection on some entry-level models.
The automaker said continued inflation and higher input costs had made it necessary to pass on part of the additional expenses to customers.
The company said the renewed conflict in the Middle East has disrupted global trade routes and energy markets, pushing up the cost of key raw materials and other inputs.
Maruti Suzuki joins several other major Indian automakers that have raised prices this year. Tata Motors Passenger Vehicles has implemented two price increases, while Mahindra & Mahindra and Hyundai Motor India have each announced one.
Shares of Maruti Suzuki ended Tuesday’s trading session 0.6% higher at 13,597 rupees after recovering from earlier losses.
