Maruti to raise vehicle prices in January

Maruti to raise vehicle prices in January

Mumbai: Maruti Suzuki India Ltd, said on 26 December it will raise prices of some vehicles by 2-3% in January because of higher raw-material costs.

Maruti, a unit of Japan’s Suzuki Motor Corp, will raise prices by Rs4,000-12,000 ($100-$300), a spokesman said.

The company’s models include the Alto and Swift hatchback. It started a scheduled plant shutdown for maintenance on Sunday, and will resume production on 2 January, the spokesman said.

Mahindra & Mahindra Ltd , India’s top utility vehicle maker, said last week it would raise prices of its utility vehicles by up to Rs10,000 per vehicle from 1 January on account of higher raw-material costs.

Indian vehicle makers have traditionally raised prices in January, after the festival season when they often offer discounts and other incentives to boost sales.