Maruti Suzuki to hike car prices from 1st October 2012

Maruti Suzuki, India’s largest auto manufacturer has announced that they will be hiking prices of vehicles from the 1st of October, 2012. This hike is due to foreign exchange fluctuations and rising input costs. The company has also witnessed a slowdown in their petrol models and this has put pressure on their profit margins.

While prices are slated to be increased, the company is currently offering heavy discounts on their Alto, WagonR and Estilo models between Rs.30,000 to Rs.35,000 in the form of free accessories or cash vouchers or a combination of both. This is specially to entice buyers into company showrooms following reduced sales due to higher interest rates and rising fuel prices.

In the meantime, Maruti Suzuki India Limited have also announced launch of their new Alto 800 which is expected to hit markets in the second week of October well in time for the festive season. A new CNG option of the same model will also be introduced. MSIL has spent Rs.470 crores on development of this new car and expects the new Alto to go a long way in MSIL getting back its market share.