BUSINESS

Maruti to hike prices from June

Guwahati, May 13: According to sources Maruti Suzuki India Limited, country’s largest carmaker on Sunday communicated to its dealers that it will hike prices of all its vehicles across models by up to 20,000 from June 2018sighting consistently rising costs in current market conditions.
“The price increase has been necessitated on account ofcontinuous increase in commodity prices, processing costs etc and depreciation of the Rupee against the Yen, which are putting pressure on the bottom line. Also increase in Fuel prices has further added to cost due to increase in Freight. ,” sources said.
Currently, MSIL sells a range of vehicles starting from the entry level hatchback Alto 800 to the S-Cross with prices ranging between 2.49 lakh and 11.5 lakh (all prices ex-showroom Guwahati). Maruti Suzuki’s portfolio currently comprises of 17 car models – Alto 800, K10, Wagon R, Celerio,CelerioX,Newly Launched Swift, Dzire, Ertiga, Omni, Eeco, Gypsy, and Brezza apart from Baleno, Ignis,Ciaz, S-Cross through its NEXA channel and Super Carry through its Commercial Channel.
Industry experts believe such price corrections are needed from time to time for automobile manufacturers to sustain the market momentum. Rising raw material costs and other expenses cannot be totally absorbed by the company beyond a point and some of the charges have to be eventually passed onto the customer. This was stated in a press release.