Maruti Suzuki, Hyundia increase prices

New Delhi, January 6: The country’s largest automobile companies in terms of passenger car sales Tuesday hiked prices on account of the government’s decision to withdraw excise duty concessions and increase in input costs. The country’s largest passenger car manufacturer Maruti Suzuki said it was increasing vehicle prices to offset higher taxes. According to a company official, the price increase which was effective Jan 1, 2015 was intimated to its dealers on Tuesday. “The price increase was intimated today. All vehicles which are sent to dealers will be sold with new prices,” the official told IANS. Meanwhile, Cheni–based Hyundai Motor India too announced the price increase across all its models with immediate effect. “In these adverse market conditions, the price increase is necessitated on account of the higher excise duty and increased input cost,” said Rakesh Srivastava, senior vice president, sales and marketing, Hyundai Motor India. (IANS)