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Maruti Suzuki announced on Monday that it will hike the prices of its cars from January 2024. The country’s leading carmaker has informed the stock exchanges that it has decided to increase car prices due to increased input costs.

“While the company makes maximum efforts to reduce costs and offset the increase, it may have to pass on some increase to the market," Maruti said in its regulatory filing.

The price increase will vary across models, the company said. However, it did not specify the exact amount of the hike that is on the cards.

Earlier in April this year, Maruti Suzuki had gone for a price hike across all models.