Following Hyundai, Mahindra, GM and BMW, Maruti has announced all of its product lineup is set to get dearer by about two to four percent from January 2015. The step is being taken in an effort to partially offset the impact of rising input costs.
“We are planning to increase the prices in the range of two-four percent across our entire range of products from January. It was in October 2013 that we had taken our last price hike,” Maruti’s executive director (Marketing and Sales), R S Kalsi told Press Trust of India. Having sustained the rising input costs for a while, Maruti hadn’t hiked the prices earlier owing to poor market conditions.
Recently Hyundai decided to hike prices by up to Rs 25,000 across its models and even BMW announced that they will hike prices of its India range by five percent, from January. A month before that, Mahindra and Tata also hiked prices of its India range.