Maruti Suzuki India, countrys largest car maker, today said that it would increase the prices of its entire range of models by up to Rs 10,000 from October first week, mainly due to depreciation of rupee.
We have been wanting to raise the price for some time as our input costs went up severely, mainly on account of weakening of rupee. However, the market was not conducive. Now it has become inevitable, Maruti Suzuki India (MSI) chief operating officer (marketing and sales), Mayank Pareek, said. The quantum of price increase will vary according to different models and fuel specifications, and will be effective from the first week of October, he added.
The amount of price hike will vary between Rs 3,000 and Rs 10,000. It will be applicable to all our models, Pareek said. MSI had last hiked the prices in January for all its vehicles by up to Rs 20,000 to offset the pressure of adverse currency fluctuation. In the last few months, rupee devalued drastically and hit a life-time low of below 68.85 against the US dollar.