The Indian auto giant Maruti Suzuki has increased the price of its cars by up to Rs 8,000 across all portfolio vehicles. However, the price of company’s volume driving small car Alto K10 has been kept unchanged. The car maker has blamed the continuously rising input material cost for the hike.
Maruti Suzuki India (MSI) managing executive officer (Marketing and Sales) Mayank Pareek said on Friday, "Yes, we did increase the prices on January 17 ranging between 0.5 per cent and 2.2 per cent." This translates into a price hike in the range of s 1,000 and Rs 8,000 across different portfolio models of the company (except Alto K10).
Earlier last month, MSI had announced that it would increase the price of its cars in India during January due to a steep rise in the essential input materials including steel, copper and natural rubber. The company however hadn’t revealed the size of this hike at that time.
While elaborating the sharp rise in the price of essential input materials, Mr. Pareek had stated in December last year, "The price of natural rubber, which used to be Rs 100 per kg, has gone up to Rs 200 per kg. Copper price has increased by 12-15 per cent and steel has also seen a similar increase.”
