Maruti Suzuki hikes prices of various models by up to Rs 20,000
The country’s largest carmaker Maruti Suzuki India on Monday hiked prices of its various models by up to Rs 20,000.
While the price of the newly launched compact SUV Vitara Brezza was hiked by Rs 20,000, the cost of the new premium hatchback Baleno was increased by Rs 10,000. On a select range, the price hike will be between Rs 1,500 and Rs 5,000, Maruti Suzuki India (MSI) said in a regulatory filing.
When asked about the reason behind the hike, an MSI spokesperson said, “This price revision is based on factors like, segment-wise demand, forex movements and strategic objectives of the company.”
It also added that the hike will be effective from Monday onwards.
Maruti sells a range of models starting from hatchback Alto 800 (priced at Rs 2.45 lakh ex-showroom Delhi) to premium crossover S-Cross (priced at Rs 12.03 lakh ex-showroom Delhi).
This is the second price hike by the Japanese carmaker this year. Earlier in January, it had hiked the price of the Baleno by Rs 20,000 citing rising input costs. Experts believe that other manufacturers will also increase the prices of their cars, following Maruti’s announcement.
MSI stock on Monday ended at Rs 4,869.80 on BSE, up 2.41 per cent from the previous close.