Car prices to touch sky high by next year; can see a massive rise up to Rs 1 lakh
After Toyota, Ford, and Mahindra, Maruti Suzuki is next on the dice to hike the price of its cars from January 1, 2019.
The company made an announcement on Wednesday regarding the increase in prices of the cars. The price hike which will come in effect from new year is to counterbalance the unfavorable impact of increase in commodity prices and foreign exchange rates.
The carmaker however has not yet revealed the percentage hike in the price. Also, the price increase will vary from model-to-model. Maruti Suzuki along with other carmakers in the country are impelled to run in the price-climb pavement.
Maruti Suzuki cars start from the entry-level Alto 800 to the premium crossover S-Cross priced between ₹2.53 lakh and ₹11.45 lakh (ex-showroom, Delhi).
Last month, Toyota Kirloskar Motor had announced that it would increase prices of vehicles across models by up to 4% from 1 January 2019, to offset increasing manufacturing costs due to rupee depreciation.
Tata Motors and Hyundai have not announced the increase in prices of the existing cars. But it was so said that they are evaluating the whole situation. In this case, if necessary, the car will increase the prices.