India’s largest
car maker Maruti Suzuki has announced that it will hike the prices of its cars
from 2015. The price hike will be in the rage of 2-4% and the step is taken to
compensate the impact of raising input costs on the company.
"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. He also
said that the company is absorbing the high input costs for some time without transferring
it to the customers owing to poor market conditions.
Along with
Maruti other manufacturers such as Hyundai, BMW, Mahindra and Tata Motors are also
joining the price hike band.
Source: ACI
