Auto majors Maruti Suzuki and General Motors India on Tuesday announced across the board hike in prices of various models by up to Rs.17,000 to compensate rising input costs and the impact of currency fluctuation.
Maruti Suzuki India (MSI) hiked the prices of its vehicles across models, except for entry-level sedan DZire, by between 0.3 per cent and 3.4 per cent, translating into a minimum increase of Rs.2,400 on the SX4 sedan and a maximum of Rs.17,000 on the diesel variant of its Swift hatchback. The price hike has been made effective from January 16.
Before the hike, the SX4 sedan was priced between Rs.7 lakh and Rs.9.11 lakh (ex-showroom Delhi), while the Swift diesel was available at prices ranging from Rs.5.27 lakh to Rs.6.47 lakh (ex-showroom Delhi) for different variants.
The company's best-selling Alto model will also become dearer by Rs.4,000 vis-a-vis the current price tag of between Rs.2.32 lakh and Rs.3.31 lakh (ex-showroom, Delhi).
Maruti sells a variety of models, ranging from the M800, which starts at a price of Rs.1.97 lakh, to the top-end Kizashi, which comes with a price tag of Rs.17.5 lakh (ex-showroom, Delhi).
On the other hand, General Motors increased the prices of their vehicles between 0.5 per cent and 1.75 per cent for models, including Spark, Beat, Cruze and Tavera, translating into an increase ranging from Rs.3,000 to Rs.15,000.
The company said the step was necessary to offset rising input costs and mitigate the impact of currency fluctuation. After the hike, the company's entry-level small car Spark, which was priced between Rs.3.24 lakh and Rs.4.04 lakh (ex-showroom, Delhi), will become dearer by about Rs.3,000. Its best-selling model, Beat Diesel, will become costlier by up to Rs.10,500. It was earlier priced between Rs.4.29 lakh and Rs.5.45 lakh (ex-showroom Delhi).
The company's mid-sized Cruze sedan will become costlier by Rs.15,000 vis-a-vis its existing price tag of Rs.12 lakh to Rs.14.50 lakh (ex-showroom, Delhi). Multipurpose vehicle Tavera will see a price hike of Rs.10,000 to Rs.13,000, depending on the variant, from the earlier price of Rs.6.62 lakh to Rs.7.56 lakh (ex-showroom, Delhi).
Toyota Kirloskar Motor said it had hiked the prices of its different models, including Liva and Etios, between 0.75 per cent and 3 per cent from January 1.
Mahindra & Mahindra has already hiked the price of its latest SUV, the XUV500, by up to Rs.55,000.