India’s largest car maker, Maruti Suzuki has announced a price hike across their entire range of cars which starts from Alto at Rs 2.66 lakhs to all the way up to Ciaz which ends at Rs 11.86 lakhs (ex-showroom, Delhi).
Effective today, all Maruti Suzuki cars have become expensive by up to Rs 6,100. The reason for the latest increase in price given by Maruti is – “owing to increase in commodity and distribution costs and adverse foreign exchange rates.”
Maruti cars on offer today are – Alto 800, Alto K10, WagonR, Celerio, Swift, Dzire, Baleno, Ciaz, Omni, Eeco, S-Cross, Gypsy, Ertiga and Ignis.
Earlier this week Indian Rupee crossed the 70 mark against 1 USD. As of now, the value of 1 USD is INR 70.29. At the start of this year, the value of 1 USD was INR 63.25. That’s more than Rs 7 increase in a matter of 7 months.
Apart from Maruti Suzuki, many other car makers have announced a price hike owing to similar reasons. Car makers do not expect to see a decline in demand owning to the recent price hike.
Maruti Suzuki India has been on a record run. The car maker has managed to increase their market share in the auto industry by registering double digit growth rate. Their monthly sales average over 1.6 lakh units. Their closest competitor, Hyundai India, sells about 45,000 to 50,000 units a month.
In the pipeline, Maruti have the launch of new Ciaz and Ertiga. The new Ciaz is scheduled for launch later this month, on the 20th. While the new generation Ertiga is due for launch before Diwali 2018.