The country's largest carmaker, Maruti Suzuki, has increased prices for its models by up to Rs 10,000 (ex showroom, Delhi). The hike was announced yesterday (January 10) and came into immediate effect. The company said that the quantum of price hike will vary across its model range. Though Maruti Suzuki had previously announced in December about hiking its price from January, it hadn't specified the amount.
An increase in commodity prices and unfavourable movement in foreign exchange rates have led the carmaker to increase prices.
Maruti Suzuki joins carmakers such as Toyota, Nissan and Volkswagen, who hiked the prices of their models starting January 1, 2019.
Toyota and Nissan India announced a price increase of up to 4 percent across its models. Increasing manufacturing costs and depreciation of the rupee is what led to the price hike, said Toyota. “In the wake of the global commodity price increase and shift in foreign exchange rates, we need to pass on the rising costs to our consumers,” Hardeep Singh Brar, director, sales and commercial, Nissan Motor India Pvt. Ltd, said in a statement.
Volkswagen India has increased prices of its models by up to 3 percent from January, primarily on account of the rising input costs.
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