OPEN APP
Home / Industry / Manufacturing /  Maruti Suzuki to hike prices of all models by up to Rs10,000 from Oct

Guwahati: Maruti Suzuki India Ltd. on Wednesday said it will increase the prices of its entire range of models by up to Rs10,000 from October first week, mainly due to depreciation of rupee.

“We have been wanting to raise the price for some time as our input costs went up severely, mainly on account of weakening of rupee. However, the market was not conducive. Now it has become inevitable," Maruti Suzuki India chief operating officer (marketing and sales) Mayank Pareek told PTI.

The quantum of price increase will vary according to different models and fuel specifications, and will be effective from the first week of October, he added.

“The amount of price hike will vary between Rs3,000 and Rs10,000. It will be applicable to all our models," Pareek said.

The prices of Maruti Suzuki’s vehicles that are manufactured in India start from Rs2.35 lakh and goes up to Rs10.21 lakh. These prices are as per the company’s official website and are for ex-showroom, Guwahati.

Maruti Suzuki had last hiked the prices in January for all its vehicles by up to Rs20,000 to offset the pressure of adverse currency fluctuation. In the last few months, rupee devalued drastically and hit a life-time low of below 68.85 against the US dollar. However, it started gaining after Raghuram Rajan joined as the new governor of Reserve Bank of India (RBI) and announced a slew of measures.

Earlier, this month, Hyundai and General Motors decided to increase vehicle prices by up to Rs20,000 to offset the impact of rupee depreciation and rising input costs, resulting in more spending from new car buyers in the festive season.

Tata Motors Ltd. said it plans to increase the prices of its passenger and commercial vehicles by around 1-1.5%, depending on the model, either petrol or diesel.

Toyota Kirloskar Motor had announced a hike in prices of its key models by up to Rs24,000 with effect from 21 September to partly offset higher cost of raw materials and rupee depreciation. PTI

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout