India’s leading automaker Maruti Suzuki has announced that it will increase the prices of select models by up to ₹10,000. The price hike will be effective from January 10, 2019. The price hike has been announced due to the rising commodity prices and foreign exchange rates.
Maruti Suzuki has stated that the price hike will vary depending on the model and will range up to ₹10,000. Maruti Suzuki has not revealed about the models that will come under the price hike. In 2018, Maruti Suzuki had already announced that the prices of its cars will go up starting from January 2019.
Currently, Maruti Suzuki retails cars ranging from the entry-level Alto 800 to the S-Cross crossover retailed through the premium Nexa dealership. The prices of the models range from ₹2.53 lakh for the Alto and goes all the way up to ₹11.45 lakh for the S-Cross. Prices are ex-showroom (Delhi).
Other economic factors such as the rise in fuel price and an increase in interest rates have played their part in the increase in prices. Similar to Maruti Suzuki, other major automakers such as Hyundai, Tata Motors, Honda, Toyota, Nissan and BMW have also announced that they will increase the prices.
Maruti Suzuki recently launched the new Ertiga in the country and the updated MPV has been a hit. The new Ertiga is also expected to be dearer due to the price hike.