Maruti Suzuki has decided that it will hike the price of certain models from January 1, 2016. Various factors have been cited for the increase in model prices. The main reasons for increase price of models if to offset the rise in input cost, weak Rupee, foreign exchange, and much more.
So far, Maruti Suzuki has not announced the models that will be affected by the price hike. Models will witness a maximum price hike up to Rs. 20,000/-. Maruti Suzuki is most likely to increase prices of all its models, including the vehicles launched this year.
Recently, Hyundai Motors India announced that they too would be hiking model prices from January 1, 2016. Hyundai Motors has confirmed that all their new models will witness a price hike. The maximum price increase by the manufacturer will be of Rs. 30,000.
Even luxury car makers have announced an increase in pricing from January 2016 onwards. Mercedes-Benz and Audi have confirmed input cost and foreign exchange as a major reason for the price hike. It will be interesting to see if luxury vehicle sales are affected by the price hike.
Maruti Suzuki has launched two premium products in the Indian market, which made their global debut in India. The NEXA premium outlets were also introduced across India, which currently offers the S-Cross premium crossover and Baleno premium hatchback models.