Maruti to increase car prices by up to Rs. 20,000 from Wednesday | autos | Hindustan Times
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Maruti to increase car prices by up to Rs. 20,000 from Wednesday

autos Updated: Jan 15, 2013 16:28 IST

The country's largest passenger car maker Maruti Suzuki India today said it will increase the prices of its vehicles across models by up to Rs. 20,000 from tomorrow to offset the pressure of adverse currency fluctuation.



"The price hike across all models will come into effect from tomorrow and will be up to Rs. 20,000," Maruti Suzuki India chief operating officer (marketing and sales) Mayank Pareek said.



Last month, the company had announced a price increase of 1-3 per cent.



Mr. Pareek said the price hike has been necessitated due to increasing pressure on margins following the adverse currency fluctuation.



The company sells a variety of models, starting from the Maruti 800 to the imported Kizashi at a price range starting from Rs. 2.09 lakh to Rs. 17.52 lakh (ex-showroom, Delhi).



In the second quarter of this fiscal, the company had posted a 5.41 per cent fall in net profit at Rs. 227.45 crore, hit by an unprecedented violence at its Manesar plant and low sales and currency fluctuation.



Adverse foreign exchange movement had an overall impact of Rs. 350 crore on the company during the July-September period this fiscal, it had said.