Maruti Suzuki India Managing Director & CEO, Hisashi Takeuchi said: "Ertiga's launch 10 years ago was a significant moment in the Indian automobile industry, as it created a new segment that has been growing at a CAGR of 4.7%."
"Over the past year, the cost of Company's vehicles continues to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike," Maruti Suzuki said in a regulatory filing to the stock exchanges.
The company, however, said there will be no impact on the production ramp-up and launch plans of its new SUV XUV7OO.
Exports during the period under review fell to 6,757 units from 9,258 units being shipped out in July 2019.
The company exported 4,289 units last month, down 56.4 per cent from 9,847 units in June 2019, MSI said.
Hyundai is the third vehicle maker after Maruti Suzuki and Tata Motors, to announce a hike in the price of its products from next month.
Units manufactured between 6 December, 2018 and 4 February, 2019 affected by a glitch in the ABS actuator assembly software
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