Maruti Suzuki Hikes Car Prices to Counter Currency Flux Impact and Higher Input Costs
By IBTimes Staff Reporter | October 3, 2012 11:52 PM EST
India's largest car maker Maruti Suzuki announced on Wednesday a price hike in all car models by up to ₹5,250, following suit of other auto majors who raised car prices in a bid to counter the impact of currency fluctuation and higher input costs.
"The average hike in the price across models is around 1 per cent and the range will be between ₹2,500 and ₹5,250," a company spokesperson said according to Press Trust of India (PTI).
Maruti India, controlled by Japan's Suzuki Motor Corp, has seen a 9.84 percent increase in its total sales in September. The company's monthly sale report published on Oct 1 showed that the total sales volume surged 10 percent to 93,988 units in September.
Maruti India offers an entire range of cars ranging from the entry level Maruti 800 and Alto, other hatchbacks like Ritz, Swift, Estillo, sedans like DZire, SX4 to multi-purpose vehicle Ertiga and Sports Utility vehicle Grand Vitara. The latest hike will be applicable to the entire range.
The company last month hinted at raising car prices. "There is a lot of pressure on our margins due to the foreign exchange fluctuation and rising input costs," Maruti Suzuki India Chief Operating Officer (Marketing and Sales) Mayank Pareek told PTI.
Auto companies like Honda Cars, General Motors and Audi India have also hiked car prices this month. Audi has increased the price of its sports utility vehicle Audi Q3 by ₹50,000, while Honda models like Brio, Jazz and City also witnessed a hike of 2.6 percent on its current price. On the other hand, Tata Motors on Tuesday unveiled its refreshed Indica eV2 model with a price cut of ₹23,000.
To contact the editor, e-mail:
Most Popular Slideshows
- Flight MH17 Attack: Russians Claim 'Putin A Terrorist,' Memorial at Dutch Embassy Overflows [PHOTOS]
- Typhoon Rammasun Claims 18 Lives in China, Incurs $4.32B Losses (PHOTOS)
- Ellen DeGeneres Caught Cheating with Mutual Friend Before Portia de Rossi’s Rehab – Reports [PHOTOS]
- Selena Gomez Turns 22 Today, Celebrates Early without Justin Bieber: Top 12 Interesting Facts About the Singer [SEE PHOTOS]
Join the Conversation
- Subaru Recalls 600k SUVs Due to Brake Line Problems; Majority in the U.S., 100k in Canada
- Australian Car Owners Face New Mandatory Emissions Standards
- Viral Video Using Go Pro Camera: 'Longest Jump Story' [Watch YouTube Clip]
- Canada Launches World's First Waste-to-Biofuels and Chemicals Facility
- Greenest Auto Manufacturer in U.S. Now Hyundai, Honda Set Off Track
- Samsung Galaxy Note 4 Apps Leak Online, Five Fresh Features to Expect from the Android Smartphone
- Moto 360 Price Speculations, Key Features, Strategic Release Date, Design: A Watch That is More Than Just Time
- Windows Phone 8.1 Update Rollout: 20 Nokia Lumia Phones Eligible and 13 New Features to be Added
- Google Nexus 8 Release Date Soon Along with 2 More HTC Android Tablets – Reports
- Three New Moto G Successors Spotted in FCC Document Dubbed Moto G2, Moto M and More --Reports
- iPad Air 2 Release Date Will Skip IGZO Panel; To Rollout with Super-Slim iPad Mini Air
- Upcoming iPad Mini 3 Could be 30% Thinner and Likely be Called iPad Mini Air; Apple Q3 Results Show 9% Decrease in iPad Sales