Maruti Suzuki India Limited, country's largest automaker, is contemplating a price hike across its entire model range by 2-4 percent from January 2015. The price hike process is reportedly taking place due to partially offset the impact of rising input costs. Maruti joins the bandwagon of price hike as in the past one week several biggies such as Hyundai, Chevrolet, Tata Motors and Mahindra have decided to raise prices of their entire vehicle line-up.
"We are planning to increase the prices in the range of 2-4 per cent across our entire range of products from January. It was in October 2013 that we had taken our last price hike," Maruti Suzuki India (MSI), Executive Director (Marketing and Sales) R S Kalsi said. "We have been absorbing the impact of higher input costs for quite some time now but we did not hike the prices because the market was not doing well." he further added. Maruti sells an array of vehicles in the country ranging from the compact hatchback Alto 800 (Rs. 2.37 Lakhs) to Grand Vitara SUV (Rs. 24.6 Lakhs). Maruti Alto 800 is the most economical company model, while Grand Vitara is the most expensive Maruti vehicle in India.
Maruti's arch rival Hyundai had announced the same a couple of days back and from January 2015 its vehicles would be costlier by Rs. 25,000. Chevrolet India too announced a price hike across its entire model range by Rs. 20,000 from January 2015 to cope up with the escalating input costs. In November, two home-grown automakers - Tata Motors and Mahindra & Mahindra - also made an announcement regarding price hike by 1-2 percent from January 2015. Even, the luxury automakers are not refraining to join the bandwagon as the German autogiant BMW said in release that it would raise the price of its entire vehicle range by 5 percent, effective from first week of January 2015.