The Hush Post|03:20 pm| 1-min-read
Maruti Suzuki has announced an increase in the prices of select models by up to ₹ 10,000. The new prices will be effective from January 10, 2019 (today).
The hike in price varies across different models. Maruti Suzuki did not specify which car models will become costlier post this price rise.
The decision comes due to the impact of rising commodity prices and foreign exchange rates. Currently, Maruti Suzuki cars start from the entry-level Alto 800 to the premium crossover S-Cross priced between ₹2.53 lakh and ₹11.45 lakh (ex-showroom, Delhi).
The cyclical price revision happens at the start of every year. Some of the other major carmakers such as Hyundai, Tata Motors, Ford, Honda, Renault, Nissan, Toyota and BMW have also made price hike announcements.
India has witnessed a rise in the exchange rates of prices of commodities like steel, aluminium and other metals which has increased the cost burden on automakers.
They in-turn are passing the financial burden on to the customers in order to retain margins.
Moreover, the rise in fuel prices has added to the transportation cost of vehicles to dealerships. Also, the increase in interest rates has made corporate loans more expensive.