New Delhi: Maruti Suzuki India Ltd, the country’s largest carmaker, on Wednesday raised the prices of its cars by between Rs1,700 and Rs17,000 across its entire product range.
Maruti has followed rivals Hyundai Motor India Ltd and Tata Motors Ltd, which have increased prices to factor in a rise in commodity and other input prices.
Honda Cars India Ltd, the local arm of the Japanese carmaker, has also raised prices in the range of Rs6,000-32,000 across segments to offset the rise in input costs.
“Maruti Suzuki India Limited today announced a price increase ranging from Rs1,700/- to Rs17,000/- (ex-showroom-Delhi) across models, owing to an increase in commodity and other administrative and distribution costs. The new prices are effective from 10th January 2018," the company said in a statement.
In December, Hyundai, the second largest carmaker in the country, decided to increase the price of its products by 2% across segments.
Tata Motors and other carmakers also raised prices from the start of the calendar year.
Companies usually anticipate the likely increase in the prices of commodities in the coming year and decide the extent of increase in prices at the start of the year.