The largest carmaker in India, Maruti Suzuki, has announced to increase the price of select models by up to Rs 10,000 due to the adverse effect of rising commodity prices and foreign exchange rates. However, the carmaker did not mention which car models will become more expensive after the price hike.
Maruti Suzuki India Limited in its regulatory filing today stated: “a price change for select models owing to increase in commodity prices and foreign exchange rates etc. The price change varies across models and ranges up to Rs 10,000 (Ex-Showroom -Delhi). The new prices are effective from 10th January 2019.”
Maruti Suzuki India in the previous month declared, “it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2019,” in the statement.
Maruti Suzuki India also released their December 2018 production report, with a net overall decline of 12% as compared to the December 2017. The overall output saw a steep decline from 122,096 units in December 2017 to 107,478 units in December 2018.
The Maruti Suzuki’s passenger car segment cut its production by 18.8% to 74,159 units from 91,371 units with its Compact segment going down by 22.3%. The Light Commercial Vehicles (Super Carry), however, saw production rise from 486 units to 545 units (12% jump) during December 2018.