Maruti announces price hike of up to Rs 17,000 – Effective from today
Almost every car maker has announced a price hike since the start of 2018.
Challenging market conditions, rise in administrative and component costs along with foreign exchange fluctuations has resulted in Maruti Suzuki India Limited (MSIL) announce a price hike from January 10, 2018.
Price hike will be across all models. This price hike follows the previous price hike announced by the company last year, when prices were increased by INR 3,000 to INR 9,000 across models. While MSIL has not indicated any model wise breakup of price hike as on date, they have announced a price increase ranging from Rs 1,700/- to Rs 17,000/- (Ex-Showroom – Delhi) across models, owing to increase in commodity and other administrative and distribution costs.
The price hike announced by MSIL follows price hikes announcements by other leading car makers in the country. MSIL currently sells a wide range of car models in India right from the entry level Alto 800 to Maruti Suzuki S-Cross all priced between INR 2.6 lakhs (for Maruti Alto 800) and INR 11.78 lakhs (for Maruti Ciaz).
Over the last few years, Maruti has been trying to shed its brand image of being a small car maker, and they have been pretty successful at it. About 50% of their cars sold today, cost an average of more than Rs 10 lakhs, and this number is increasing steadily. More and more customers are willing to pay more for Maruti cars. This is a change from a few years ago when many thought who would buy a Maruti for Rs 10 lakhs.
Even in 2018, Maruti will continue with their product offensive. Few of their cars lined up for launch this year are – New Swift, Ertiga and Ciaz.