The country's largest carmaker Maruti Udyog Ltd is planning an across the board increase in car prices from April 1 on the back of hike in steel prices following this year's Budget proposals.
According to company sources, the proposed raise would be in addition to new pricing announced by the company for switching its cars to Euro III emission norms in 11 cities and to Euro II in other parts of the country as per the new auto fuel policy.
After the Budget, there has been a sharp increase in steel prices and the company needs to cover additional costs through higher prices, sources said, adding the quantum of increase would be decided soon.