Maruti Suzuki being the No.1 car manufacturers in the Indian market has now increased its vehicle prices up to 10,000 INR depending upon the different models and fuel type available. The decreasing Rupee and the rising input costs are the main reason for this price hike.
Already companies like Hyundai, General Motors and Toyota have already increased the prices of their range of vehicles last month. Mr. Mayank Pareek, COO (Marketing and Sales) Maruti Suzuki India said that “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,”
Before this, Maruti had increased the prices up to 20,000 INR for their range of vehicles earlier this year. After all these companies, Tata is also planning to increase the price ranging from 1-1.5%.