India’s leading carmaker, Maruti Suzuki has increased prices of its models by up to Rs 6,100. The price hike comes in tandem with increase in commodity costs, fluctuations in foreign exchange and fuel prices. Maruti India released an official statement yesterday mentioning that the revised prices for all the models are based on ex-showroom price-Delhi and will be implemented from August 16, 2018. The company retails around 11 models including Alto, Wagon R, Eeco, Swift, Dzire Brezza, Ignis, Ciaz, Baleno and S-Cross through its Arena and Nexa dealership network.
Carmakers have been revising prices of their models in the range of 2 to 4 per cent in a bid to offset rising custom duty, input & freight costs, etc. The Indian arm of Japanese carmaker, Honda also announced price hike across it line-up in the range of Rs 10,000 to Rs 35,000, effective August, 2018.
India’s leading exporter of passenger vehicles, Hyundai Motor India Ltd (HMIL) is one of the various car giants to increase prices of its models. The company revised prices of its stellar model, Hyundai Grand i10 by up to 3 per cent in July. UV giant, Mahindra & Mahindra Ltd also hiked prices by up to Rs 30,000 (2 per cent) across its passenger vehicle line-up. Aside from the aforementioned car giants, luxury carmakers such as Audi, Mercedes-Benz and Jaguar Land Rover announced price hike during the beginning of current financial year in April owing to increase in custom duty.