Maruti Suzuki, India’s largest selling car maker has said it will soon raise the prices of all its cars by up to INR 20,000. The price effect comes into effect on January 2013. The reason behind the price increase is the currency fluctuations that are leading to increased pressure on the company’s margins.
“There will be a hike in the prices of our products. Quantum will vary depending on models, but it can be up to Rs 20,000,” Maruti Suzuki India chief operating officer (marketing & sales) Mayank Pareek said.
Thanks to Rupee losing to Japanese Yen, Maruti has suffered an overall impact of INR 350 crore during Jul-Sep 2012 period.
It remains to be seen if increased prices would have any drastic effect on the sales of highly popular models like the recently launched Alto 800.