“Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike,” it added.
The company has planned to increase the prices in April and the hike will vary for different models.
However, the company did not disclose the quantum of the proposed price hike.
MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to constant increase in input costs.
The company sells a range of models starting from Alto to S-Cross in the domestic market.