New Delhi: Country's largest carmaker Maruti Suzuki India (MSI) on Thursday hiked prices of its vehicles by up to Rs 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 Rs 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 Rs 2.51 lakh and Rs 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. 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 per cent 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 Rs 1-10 lakh to pass on the increase in custom duties.