New Delhi: Maruti Suzuki India on Monday announced an increase in prices for select models, with immediate effect, due to increase in input costs.
In a statement, the automobile major said that the price hike is up to 4.7 per cent.
“The price change varies across models and ranges from 0 per cent to 4.7 per cent (ex-showroom Delhi). The new prices are effective from 27th January 2020,” it said
The models which will be effected by the price hike are Alto, WagonR, Ertiga, Baleno, S-Presso and XL6.
Last month, the company had said that it would raise the prices in January due to rise in input costs.
Input and manufacturing cost in the segment has risen with new regulatory norms as the vehicles makers need to make transition to BS-VI engines by April this year and also with the coming in of new mandatory safety regulations such as use of anti-lock braking system (ABS) and airbags.
The slump in sales in the past one year has and the eventual financial impact also could be a reason for the price hike.
In the current fiscal year upto December, the company sold 11.78 lakh units, around 16 per cent lower than 14.03 units sold during the same period (April-Decemner) in the 2018-19.