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With input costs increasing at various levels, India's largest passenger car maker, Maruti Suzuki India (MSIL) on Tuesday said it will increase the prices of its products across models from January 2020. The company said that 'over the past year, the cost of company's vehicles has been impacted adversely 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 increase across various models in January 2020," MSIL said in a filing to stock exchanges. "This price increase shall vary for different models," it added. In September, the company had reduced prices of select models by Rs.5,000 (on ex-showroom prices), to pass on the government's decision to reduce corporate tax. Same month, the company has also reduced the price of its performance hatchback Baleno RS by Rs1 lakh.
Other companies may also follow suit and increase prices of their products.
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