New Delhi: Auto major Maruti Suzuki has hiked prices. The car prices have been hiked from Rs 1,000 to Rs 18,000.
The new prices would be applicable with immediate effect. High input costs of raw materials like steel plastic has led the company to raise its price line.
"Pressure is coming from steel companies which are asking for a 40 per cent increase in steel prices," Maruti Suzuki India Executive Officer (Marketing and Sales) Mayank Pareek said.
Earlier, the company's sales department wrote to dealers to be prepared for the imminent price hike and exhaust existing stocks before the new prices become effective.
"There has been a continuous increase in the steel and commodity prices in the past few months. As a result, our input costs have increased substantially. We have been trying to absorb this increase in the input costs, but now we are forced to pass on a part of this increase to the customers."
The company had last increased the prices of its cars between Rs 1,000 and Rs 11,000 (ex-Showroom, Delhi) ranging across most of its models in February 2008.
Recently Maruti Suzuki Ltd. Has launched its new car model, Swift DZire, with introductory price ranging between Rs 4.49 lakh and Rs 6.70 lakh (ex-showroom Delhi), aiming to consolidate its position in the bigger car segment.
DZire, the seventh model Maruti Suzuki has launched in the last three years, comes in both diesel and petrol variants and is powered by 1.3 litre engine.
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