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Maruti Suzuki India Ltd has announced that it will hike its car prices from the upcoming month, in order to offset the adverse impact of an increase in commodity prices and foreign exchange rates. Maruti Suzuki India said in a regulatory filing, “The cost of company’s vehicles has been impacted adversely due to the increase in commodity prices and foreign exchange rates.”
“Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2019,” the statement added.
However, the carmaker did not specify the rate at which the price will be hiked. But according to the officials, the company is working out the range at which the different model with be affected.
As of now, Maruti Suzuki entry-level car Alto 800 starts at Rs. 2.53 lakh and the flagship S-Cross at Rs. 11.45 lakh (ex-showroom, Delhi).
Earlier this week, utility vehicle maker Isuzu Motors India Pvt. Ltd announced a price hike by Rs. 1 lakh from January to offset increasing input and distribution costs. Whereas last month, Toyota Kirloskar Motor said in order to offset increased manufacturing costs due to rupee depreciation, a price hike by up to 4% from 1 January 2019 will be levied on all vehicles.
