MARUTI SUZUKI TO HIKE PRICES FROM JAN­UARY

Financial Chronicle - - FRONT PAGE - PRESS TRUST OF IN­DIA

Maruti Suzuki In­dia said it will in­crease prices of its ve­hi­cles across var­i­ous mod­els from next month to off­set ad­verse im­pact of in­crease in com­mod­ity prices and for­eign ex­change rates. The com­pany, how­ever, did not spec­ify by how much the prices of its ve­hi­cles would in­crease.

Maruti Suzuki In­dia Ltd. said it will in­crease prices of its ve­hi­cles across var­i­ous mod­els from next month to off­set ad­verse im­pact of in­crease in com­mod­ity prices and for­eign ex­change rates.

The com­pany, how­ever, did not spec­ify by how much the prices of its ve­hi­cles would in­crease.

At present, the com­pany is work­ing out the range, a com­pany of­fi­cial said.

“The cost of com­pany’s ve­hi­cles has been im­pacted ad­versely due to in­crease in com­mod­ity prices and for­eign ex­change rates,” Maruti Suzuki In­dia said in a reg­u­la­tory fil­ing. It fur­ther said, “Hence, it has be­come im­per­a­tive for the com­pany to pass on some im­pact of the above ad­di­tional cost to cus­tomers through a price in­crease across var­i­ous mod­els in Jan­uary 2019.” This price in­crease shall vary for dif­fer­ent mod­els, it added. At present, Maruti Suzuki sells a range of ve­hi­cles start­ing from en­try-level Alto800 to the premium crossover SCross priced be­tween Rs 2.53 lakh and Rs 11.45 lakh. Util­ity ve­hi­cle maker Isuzu Mo­tors In­dia said it will hike prices of ve­hi­cles by up to Rs 1 lakh from Jan­uary to off­set in­creas­ing in­put and distri­bu­tion costs. Toy­ota Kir­loskar Mo­tor too an­nounced it would in­crease prices of ve­hi­cles across mod­els by up to 4 per cent from Jan. 2019, to off­set in­creas­ing man­u­fac­tur­ing costs.

The cost of com­pany’s ve­hi­cles has been im­pacted ad­versely due to in­crease in com­mod­ity prices and for­eign ex­change rates, Maruti Suzuki In­dia said

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