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Maruti Suzuki hikes prices by up to Rs 17,000; stock jumps
India's largest passenger car maker Maruti Suzuki India has followed in the footsteps of other car makers and hiked prices as high input costs continue to bite.
India's largest passenger car maker Maruti Suzuki India has followed in the footsteps of other car makers and hiked prices as high input costs continue to bite.
The price hike is in the range of Rs 2,400-17,000 across models, except the Dzire and will be effective Jan 16, a company spokesperson told moneycontrol.com.
The sharp depreciation in rupee in the Oct-Dec quarter has also made importing auto components expensive, and that is another reason for the price hike.
Maruti Suzuki shares jumped post its price hike announcement and at 11:25 hrs were up 5.4% at Rs 1,062.30 on NSE.
Many other passenger vehicle makers in India like Mahindra & Mahindra , Renault, General Motors, Hyundai Motor, Ford India and Toyota Kirloskar Motor, had already raised vehicle prices from Jan 1.
M&M, for instance, had raised prices by up to 3% across its product portfolio. Others like General Motors and Hyundai, which is the second largest passenger car maker in India, had announced price hikes in the 1-2% range.
