Maruti Suzuki Increased the Prices on Cars Due to Adverse Foreign Exchange Rates
Maruti Suzuki India (MSI) increased prices of its vehicles by up to Rs 6,100 on the back of commodity and distribution costs. The increase also aims to offset the impact of adverse foreign exchange rates.
The company said in an official statement, “The price change varies across models and is up to Rs 6,100 (ex-showroom Delhi).”
The new prices are effective from today, it added. MSI sells a range of vehicles from entry-level Alto 800 to mid-sized sedan Ciaz. These were priced between Rs 2.51 lakh and Rs 11.51 lakh (ex-showroom Delhi) before the hike.
Earlier this month, MSI Senior Executive Director (Marketing and Sales) R S Kalsi had said the company has been analyzing the adverse movement of commodity prices which were going towards the higher side.
Besides, the foreign exchange rate had impacted the company adversely, while the fuel prices to have increased, adding to the logistics costs, he added. German luxury carmaker Mercedes-Benz today also announced to hike prices of its vehicles across models by up to 4 percent from September.