Facing headwinds due to rising fuel prices and free-falling Indian rupee, India's leading car manufacturing company Maruti Suzuki with effect from Thursday has upped the prices of its cars by as much as Rs. 6,100.
So, the company's cheapest car model Alto will now be retailing at a price of Rs. 2.66 lakhs whereas Ciaz will be available for Rs. 11.86 lakhs.
Also from today the company has rolled out offers on a number of its models including Alto 800, Alto K10, WagonR, Celerio, Swift, Dzire, Baleno, Ciaz, Omni, Eeco, S-Cross, Gypsy, Ertiga and Ignis.
Maruti Suzuki commands a market share of close to 51% and nets an average monthly sale of close to 1.6 lakh cars while its rival company Hyundai sells about just 50,000 odd units in contrast.
The rupee after breaching 70 mark in India's economic history for the first time is still trading above 70 versus the US dollar.
In fact citing similar reasons, other car manufacturers have also made an announcement to bring about the price hike.
Due to rising input cost, cars from different players including Mahind.ra & Mahindra, Tata Motors and Honda Cars will be priced higher from this month.
Also, Mercedes Benz announced an increase in price by up to 4% across models effective September.
Earlier, in April, a hike in customs duty was passed on to customers with a price rise in the range of Rs. 1 to Rs. 10,00,000 by luxury car manufacturers that include Mercedes, JLR and Audi.