SML Isuzu to hike prices of its truck and bus models from April 1

Chandigarh-based company SML Isuzu said in an exchange filing that it will raise the prices of its trucks and buses from April 1, 2023, to offset higher input costs due to inflation and new safety and emission norms. Besides SML Isuzu, Maruti Suzuki Ltd, Tata Motors Ltd, and two-wheeler maker Hero Motocorp have also recently announced price hikes.

The company said it will increase prices for its truck models by up to 4 per cent and by up to 6 per cent for bus models, the company said in the regulatory filing. 

“To cover the increase in input prices due to new compliances - BS6 Integrated On-Board Diagnostic II (IOBD-II) and Electronic Stability Control (ESC) for buses, being implemented with effect from 1st April 2023 and general inflation, the Company has decided to increase the prices of its vehicles (both Trucks & Buses) with effect from 1st April 2023,” the company added.

Also, India's latest emission norms, called Bharat Stage 6, will come into effect in April, requiring automakers to alter their vehicles to comply with the new rules, thereby adding to their costs. 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.