The country’s largest passenger carmaker, Maruti Suzuki India, on Thursday announced a price hike of up to ₹6,100 across its models to partially offset the increase in commodity and distribution costs and adverse foreign exchange rates.
The price change effective from today varies across models and is up to ₹6,100 (ex-showroom Delhi), Maruti said in a statement.
German luxury carmaker Mercedes-Benz, too, has hiked prices across its models by up to 4 per cent from September.
Others such as Mahindra & Mahindra, Tata Motors and Honda Cars India had announced price hikes due to rising input costs from this month. Hyundai announced a price hike on its Grand i10 model by up to 3 per cent, last month.
Earlier, RS Kalsi, Senior Executive Director (Marketing and Sales), Maruti, had said the company was analysing the adverse movement of commodity prices.
Falling rupee
Besides, the foreign exchange rate had hit the company and increasing fuel prices added to logistics costs, he had said.
Mercedes-Benz blamed the falling rupee for the price hike. “Considering the rapid depreciation of the rupee against the major currencies in last few days, we were left with fewer options but to make some necessary price adjustments,” said Roland Folger, Managing Director and CEO, Mercedes-Benz India .
In April, luxury carmakers Audi India, JLR India and Mercedes Benz India hiked prices by ₹1 lakh and ₹10 lakh to pass on the increase in customs duties.