India's SML Isuzu to hike prices to offset higher input costs

SML Mahindra

28/03/2023 13:45

BENGALURU, March 28 (Reuters) - Indian automaker SML
Isuzu Ltd  SMLI.NS  said on Tuesday it will raise prices of its
trucks and buses from April 1 to offset higher input costs due
to inflation and new safety and emission norms.
    The company said it will increase prices for its truck
models by up to 4% and by up to 6% for bus models.
    India's latest emission norms, called Bharat Stage 6, will
come into effect from April, requiring automakers to alter their
vehicles to comply with the new rules, thereby adding to their
costs.
    Besides SML Isuzu, Maruti Suzuki Ltd  MRTI.NS , Tata Motors
Ltd  TAMO.NS  and two-wheeler maker Hero Motocorp  HROM.NS  have
also recently announced price hikes.
    Chandigarh-based SML Isuzu also said its costs were rising
due to fitting its buses with electronic stability control
technology, which helps prevent losing control of a vehicle.

 (Reporting by Dimpal Gulwani in Bengaluru; Editing by Savio
D'Souza)
 ((Dimpal.Gulwani@thomsonreuters.com;))