India’s largest carmaker Maruti Suzuki India hiked prices of its various models by up to Rs 20,000 on Monday.
The increase in price for the newly-launched compact SUV Vitara Brezza will be Rs 20,000, while that of new premium hatchback Baleno is Rs 10,000.
On a select range, the price hike will be between Rs 1,500 and Rs 5,000, Maruti Suzuki India (MSI) said in a regulatory filing.
On reasons for the hike, MSI said: “This price revision is based on factors like, segment-wise demand, forex movements and strategic objectives of the company.”
The hike is effective from Monday, it added.
The company sells a range of models, starting from hatchback Alto 800 to premium crossover S-Cross, priced Rs 2.45 lakh to Rs 12.03 lakh (ex-showroom Delhi).
MSI stock ended at Rs 4,869.80 on BSE on Monday, up 2.41% from the previous close.