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Maruti Hikes Diesel Car Prices To Improve Profits
The Ritz has got the smallest price hike of Rs.2,000 while the SX4 is costlier by Rs.10,000. The carmaker has seen an increase in input costs and the recent appreciation of the Japanese Yen has also not helped matters. This has forced Maruti to increase diesel car prices.
Speaking to the media on its decision, a Maruti Suzuki spokesperson said: “There has been a critical upswing in the inputs cost and an adverse appreciation in the Japanese currency yen that had made imports costlier and forced this hike."
Maruti Suzuki has been the market leader in India since several years and other carmakers follow it whenever there is a price hike. Hence we should expect other major carmakers such as Hyundai and Toyota to also increase prices soon.
These price hikes might reduce the demand for diesel cars slightly. Carmakers are struggling to handle the increased demand for diesel cars. Maruti Suzuki which is just about recovering from a series of strikes at its plant in Manesar is looking to increase profitability to counter the losses it suffered due to the strikes. If you are looking to increase profits, it is only prudent that you increase prices of your highest selling products.
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