Maruti Suzuki India increased prices of its models by up to Rs 17,000 from Wednesday. The car prices have been hiked to compensate for the rising input costs, the company said in a statement.
According to a stock exchnage filing, the largest car manufacturer in India has hiked prices in a range of Rs 1,700 to Rs 17,000 across models. The decision was taken on account of increase in commodity, and other distributive and administrative costs.
It remains to be seen how the increase in prices will affect the upcoming models from the company. The Indian auto market leader is expected to launch the next-generation Maruti Suzuki Swift at the upcoming Auto Expo 2018. Some dealerships have reportedly started taking pre-orders for the new Swift.The company is also going to tease the new ConceptFutureS design language at the auto event in February.
The Maruti Suzuki portfolio extends from budget offerings, like the Alto 800 starting from Rs 2.48 lakh, to mid-range sedan Ciaz, which sells for as much as Rs 11.59 lakh (all prices ex-showroom). The company had said last month that it will increase prices from January.
Meanwhile, Honda Cars India confirmed that the company has hiked prices of all its cars made in India from Januar 08, 2018. The Japanese carmaker has increased prices in the range of Rs 6,000 to Rs 32,000. A Honda spokesperson added that the prices of Accord Hybrid, company’s costliest car in India at Rs 43.21 lakh (ex-showroom price), will not be affected.
Several car companies have revealed plans to increase prices of their models shortly. Automakers Hyundai Motor India and Mahindra and Mahindra have already announced to increase prices from this month.
Tata Motors has already increased prices of its models by up to Rs 25,000 from January 1. These companies are however yet to announce price increase for their respective vehicles. The price hike comes right before the Auto Expo 2018 where these companies are expected to unveil some much-awaited cars.
This story was originally published in businesstoday