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Maruti Suzuki Hikes Car Prices Over weak Rupee
Now the leading Indian carmaker has announced a price hike of its entire model range citing the weakening of the Indian Rupee against the US dollar and increasing input costs. According to the carmaker"s statement, the price hike will be between 0.3 per cent and 3.4 per cent. The company has not given a detailed breakup of the price hike yet. However, the price hike will translate in to an increase between Rs.2,400 to Rs.17,000.
The only car that will not see an increase in price will be the Swift DZire. The reason behind this could be the fact that Maruti Suzuki will be launching a new Swift DZire in February and the current model will be phased out slowly.
The weakening Indian Rupee along with the price hike in basic commodities has had an impact on production costs. Several major carmakers such as Mahindra and Mahindra, Ford, General Motors, Toyota and Honda have increased prices.
Carmakers have to maintain a very tight balance between increasing car prices and sales as they are already facing a situation where car sales are slowing down. However the increased input costs have had a dent on profits forcing the carmakers to increase prices.
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