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Maruti raises prices by up to 2.4%

Maruti raises prices by up to 2.4%
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First Published: Tue, Apr 05 2011. 05 33 PM IST
Updated: Tue, Apr 05 2011. 05 33 PM IST
Mumbai: Maruti Suzuki, India’s largest carmaker has raised prices between Rs 1,100 to 9,000 ($25-$203) across all models, a company spokesman said on Tuesday; it’s second price increase in three months.
The hike, ranging from 0.2% to 2.4% for various models, is effective from 4 April.
“The price increase is to partially cover rising input costs,” the spokesman said.
Maruti, 54.2% owned by Japan’s Suzuki Motor, last raised prices in late January 2011, by up to 2.4% across most models.
Maruti’s models are priced between $4,400 and $18,400.
The company had reported an 18% decline in third quarter net profit as higher royalty payouts and rising input costs weighed on margins.
Last week, Maruti reported car sales rose 28.2% in March 2011.
Rival auto major, Tata Motors also raised prices on some of its passenger and utility vehicles effective on 1 April.
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First Published: Tue, Apr 05 2011. 05 33 PM IST