Cars become costlier as Maruti, Hyundai, others hike prices

Cars become costlier as Maruti, Hyundai, others hike prices

Cars become costlier as Maruti, Hyundai, others hike prices

Maruti Suzuki India (MSI), the country's largest carmaker said it has increased prices by up to Rs 8,000 across models, except its newly launched compact car Alto K10.

"Yes, we did increase the prices from January 17, ranging between 0.5 per cent and 2.2 per cent," Maruti Suzuki India Managing Executive Officer (Marketing and Sales) Mayank Pareek told PTI.

Except the new hatchback Alto-K10, the hike will translate into an increase of prices between Rs 1,000 and Rs 8,000 across different models made by the company.

Similarly, an official of rival Hyundai Motor India Ltd (HMIL) said it has hiked prices by 1.5 per cent from this month for its models, Santro, i10, i20 and sedan Verna.

General Motors India also said it has revised the prices upwards since the first week of this month ranging between 1 per cent and 1.5 per cent.

"This would translate to an increase of price ranging between Rs 2,500 and Rs 15,000 across all models," General Motors India Vice-President P Balendran said.

Comments from Toyota Kirloskar Motors and Mahindra & Mahindra could not be obtained on whether they have hiked prices as well.

On the New Year day, Tata Motors hiked the prices of some its passenger vehicles and all of its commercial vehicles by up to Rs 30,000. While the company increased prices of passenger cars between Rs 3,000 and Rs 15,000, for the commercial vehicles the hike ranged between Rs 1,500 and Rs 30,000.

Almost all the automobile companies had in December said that they would raise prices in January. They had cited rising input costs as reasons for such a move.

"The price of natural rubber, which used to be Rs 100 per kg, has gone up to Rs 200 per kg. Copper price has increased by 12-15 per cent and steel has also seen a similar increase," Pareek had said then.

Later in the day, Mahindra & Mahindra Senior Vice- President Sales and Channel Development (Automotive sector) Arun Malhotra said the company has hiked prices of its vehicles across models between Rs 4,000 and Rs 11,500 since January 6.