Maruti Suzuki, Honda hike car prices by up to Rs 32,000, other carmakers to follow suit

 BusinessToday.in   New Delhi     Last Updated: January 10, 2018  | 00:00 IST
Maruti Suzuki, Honda hike car prices by up to Rs 32,000, other carmakers to follow suit

Maruti Suzuki India increased prices of its models by up to Rs 17,000 from Wednesday. The  price hike comes on the back of rise in input costs, the company said in a statement.

According to a stock exchnage filing, the largest car manufacturer in India has hiked prices in a range of Rs 1,700 to Rs 17,000 across models. The decision was taken on account of increase in commodity, and other distributive and administrative costs.

The Maruti Suzuki portfolio extends from budget offerings, like the Alto 800 starting from Rs 2.48 lakh, to mid-range sedan Ciaz, which sells for as much as Rs 11.59 lakh (all prices ex-showroom). The company had said last month that it will increase prices from January.

Meanwhile, Honda Cars India confirmed that the company has hiked prices of all its cars made in India from Januar 08, 2018. The Japanese carmaker has increased prices in the range of Rs 6,000 to Rs 32,000. A Honda spokesperson added that the prices of Accord Hybrid, company's costliest car in India at Rs 43.21 lakh (ex-showroom price), will not be affected.

Several car companies have revealed plans to increase prices of their models shortly. The automakers in this list include Hyundai Motor India, Honda Cars, Mahindra and Mahindra, have already announced to increase prices from this month.

Tata Motors has already increased prices of its models by up to Rs 25,000 from January 1. These companies are however yet to announce price increase for their respective vehicles. The price hike comes right before the Auto Expo 2018 where these companies are expected to unveil some much-awaited cars.

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