Maruti Suzuki India hiked prices of its various models by up to INR 20,000 on Monday, revealed a regulatory filing to the Bombay Stock Exchange. While the Vitara Brezza’s prices have been increased by INR 20,000, prices for the Baleno have also gone up by INR 10,000. The price hike is effective from August 1, 2016. On reasons for the hike, MSI said: “This price revision is based on factors like, segment-wise demand, forex movements and strategic objectives of the company.”
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Post the price hike, the Maruti Suzuki Vitara Brezza now retails from INR 7.19 lakhs-9.88 lakhs, while the Maruti Baleno’s prices range from INR 5.25 lakhs-8.36 lakhs; all prices ex-showroom, New Delhi. In July 2016, fuelled by the success of both these models, Maruti recorded the highest ever sales in the domestic market, selling 125,778 units in India alone. The Vitara Brezza has significantly contributed to the growth of Maruti’s utility vehicle segment, which saw a rise of 151.3 percent in July 2016 as compared to the same month last year.
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