An IIPM Initiative
Saturday, September 25, 2021
 
 

Maruti increases prices, others to follow soon

 

AGENCIES | New Delhi, October 3, 2012 15:31
Tags : Maruti Suzuki | Honda | General Motors | Audi India |
 

 

Maruti Suzuki India said that it has hiked prices of all its models by up to Rs. 5,250 with immediate effect. This move has been made to offset adverse impact of foreign exchange fluctuation and rising input costs.
 
"The average hike in the price across models is around one per cent and the range will be between Rs 2,500 and Rs 5,250," a spokesperson with the country's largest car maker said.
 
The company sells a range of models starting with the small car M800 (INR 2.04 lakh) to the luxury sedan Kizashi (INR 17.5 lakh). The company had hinted last month itself that there would be a hike in the prices.
 
"There is a lot of pressure on our margins due to the foreign exchange fluctuation and rising input costs," Mayank Prateek, Maruti's Chief Operating Officer had said last month.
 
The company had also said that in order to counter the impact of adverse currency movement, it was targeting to reduce its forex exposure by nearly 65 per cent to USD 600 million. The company has set March 2015 as the target for which it was working with its vendors to reduce imports.
 
Other car makers including Honda Cars, General Motors and Audi India have either raised the prices of their vehicles or in the process to do so.
 
 
Related stories:
 

 

Rate this article:
Bad Good    
Current Rating 0
 
 
Post CommentsPost Comments




Issue Dated: Feb 5, 2017