Financial Daily from THE HINDU group of publications
Friday, Dec 24, 2004
Financial Daily from THE HINDU group of publications Friday, Dec 24, 2004 |
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Corporate
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Outlook Maruti plans price hike in Jan Our Bureau
New Delhi , Dec. 23 MARUTI Udyog on Thursday informed its dealers in a communiqué that it is likely to raise prices next month as rising input costs were putting pressure on margins. Prices would go up by Rs 5,000 to Rs 20,000 in January as costs of steel, plastic and crude oil had gone up substantially, a company communication to dealers said. In addition, the weakening dollar is also showing impact on procurement prices of imported parts. Maruti had last increased prices of its models by about 0.38 per cent in August 2004 as a result of a two per cent cess levied in the Budget. Prior to that, in January 2004, Maruti had increased prices of its models by 0.2 to 0.75 per cent owing to increases in input cost. Maruti's rivals Hyundai Motor India, Tata Motors, Skoda Auto India, General Motors India and Ford Motors have also announced their plans to raise prices in January 2005.
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