Maruti Suzuki, India’s largest car manufacturer and the Indian subsidiary of the Japanese carmaker Suzuki, has announced its plans to hike prices across its car product portfolio by up to Rs 10,000. The price hike will come into effect from October 2013.
The carmaker has attributed the price hike to the depreciation of the Indian rupee. According to Mr. Mayank Pareek Chief Operating Officer (Marketing and Sales) Maruti Suzuki India, the price hike has become inevitable considering the current state of the Indian automobile industry. He added that price hike will vary for each car model in accordance to the fuel specifications and will range between Rs 3,000 to Rs 10,000 across the entire range of car models by Maruti Suzuki.
With the announcement of price hike, Maruti Suzuki joins the ranks of other carmakers which have already raised their car prices due to similar reasons of rupee depreciation and rising input costs. These include Hyundai India and General Motors India who have hiked car prices by up to Rs 20,000.
