The country’s largest automaker Maruti Suzuki (MSIL) on January 10 announced that it would hike prices for select models by up to Rs 10,000 with immediate effect, with customers shelling out more for these models beginning Thursday. The quantum of the hike varies across models.
MSIL said it took the move to offset the impact of increasing commodity prices and adverse foreign exchange trends. The company last month hinted of the move, but had not disclosed the quantum of the hikes.
Not just MSIL, but almost every carmaker in the country announced price hikes last month, with the new prices going into effect from January 1 to offset rising cost of operations. Most carmakers have jacked up their selling prices between 2-4 per cent.
Currently, Maruti Suzuki cars have starting prices ranging from Rs 2.53 lakh for the entry-level Alto 800 to Rs 11.45 lakh for the premium crossover S-Cross (ex-showroom, Delhi).
Wagon R launch draws close
The carmaker also confirmed the launch date of its new Wagon R as January 23 and released a teaser image of the car. The Wagon R model has been on sale in India since 1999 and has consistently been one of the firm’s best selling models for nearly two decades.
However, with the launch of a new variant of its age-old rival — the Santro -- and the positive traction seen by the Tata Tiago in the car market, Wagon R saw a dip in sales. MSIL however, expects the new Wagon R to boost sales in the compact segment. The new Wagon R will be available in seven variants and is expected to be priced between Rs 4.50-5.50 lakh (ex-showroom New Delhi).