Biznextindia : Commercial vehicle manufacturer SML ISUZU has announced price hike of its commercial vehicles, which include Trucks and Buses, in the range of 3% to 4% effective 4th April 2022. The company has attributed the price hike to sharp increase in commodity prices and other input costs.
“The Company has decided to increase prices of its Products (across all Models – Trucks & Buses) in the range of 3% to 4%, effective 4th April 2022. While the Company is taking actions to absorb the impact of sharp increase in commodity prices and other input costs, the upward revision has been necessitated to partially offset the impact of increased costs” the company said in a regulatory filing.
SML ISUZU had reported a robust sales growth of 43% to 1363 units in March. The company sold 698 units of cargo vehicles in March 2022 as against 679 units sold in March 2021, recording a 3% rise year on year (YoY). Similarly, passenger vehicle sales soared 144% to 665 units in March 2022 as compared to 273 units sold in March 2021.