Maruti to hike prices by up to Rs 12,000

Maruti Udyog Ltd on Monday says it will hike prices of its products by up to Rs 12,000 next month, reports HT Correspondent.

Maruti Udyog Ltd (MUL) will increase the prices of its models by up to Rs 12,000 from February 1. The company has decided to discontinue manufacturing its premium sedan Baleno and come out with a new model in the next financial year.

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"We have informed all our dealers about the planned price hike to be effective from February 1. The price increase is largely aimed at adjusting dealer commissions," MUL managing director Khattar stated.

Maruti last week launched a 1.3-litre-diesel engine-driven premium hatchback Swift to capture the growing diesel market. The company plans to launch two models in the next financial year.