Maruti Suzuki India hikes prices of vehicles by up to₹6,100
The country's largest carmaker Maruti Suzuki India (MSI) today hiked prices of its vehicles by up to ₹6,100 in order to partially offset increase in commodity and distribution costs and adverse foreign exchange rates.
The price change varies across models and is up to ₹6,100 (ex-showroom Delhi), the company said in a statement. The new prices are effective from today, it added.
MSI sells a range of vehicles from entry level Alto 800 to mid-sized sedan Ciaz. These were priced between ₹2.51 lakh and ₹11.51 lakh (ex-showroom Delhi) before the hike.
Earlier this month, MSI Senior Executive Director (Marketing and Sales) R S Kalsi had said the company has been analysing the adverse movement of commodity prices which were going towards the higher side.
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Besides, the foreign exchange rate had impacted the company adversely, while the fuel prices too have increased, adding to the logistics costs, he added.
German luxury carmaker Mercedes-Benz today also announced to hike prices of its vehicles across models by up to 4% from September. Other companies such as Mahindra & Mahindra, Tata Motors and Honda Cars India have also announced price hikes from this month citing rising input cost.
In April, luxury carmakers such as Audi, JLR and Mercedes-Benz hiked prices in the range of ₹1-10 lakh to pass on the increase in custom duties.