Country's largest carmaker Maruti Suzuki India will hike prices of its vehicles across models by up to Rs 20,000 from January to offset impact of rising costs and weakening of rupee against dollar, joining rivals in making such a move.
"The price increase has been necessitated on account of increase in costs due to weakening of rupee against dollar, rise in administrative and other costs," a Maruti Suzuki India (MSI) spokesperson said.
Currently, MSI sells a range of vehicles starting from the entry level small car Alto 800 to the S-Cross with price ranging between Rs 2,53,000 and Rs 1,37,400 (all prices ex-showroom Delhi).
Yesterday, rival Hyundai Motor India had also announced that it would hike prices of its products by up to Rs 30,000 from next month to offset rising input costs and unfavourable foreign exchange fluctuation.
The company sells nine car models –- Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra and Santa Fe -- across segments priced between Rs 3,10,000 and Rs 3,041,000 (ex-showroom Delhi).
Already various car makers including Toyota and German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.
Experts believe carmakers usually come up with such announcements around this time of the year which help them clear inventories left after the heavy festival discounts on vehicles.
