Maruti Suzuki India, which is India's largest carmaker, has decided to hike prices in all its car models by 1 percent in order to meet the impact of foreign exchange fluctuation and rising input costs.
"The average hike in the price across models is around 1 per cent and the range will be between Rs 2,500 and Rs 5,250," a company spokesperson said.
Maruti has models varying from budget to luxury car models i.e. from Maruti 800 to luxury sedan Kizashi. They are priced between Rs 2.04 lakh and Rs 17.5 lakh and all will see their price being hiked.
Last month, Maruti Suzuki India Chief Operating Officer (Marketing and Sales) Mayank Pareek had said the company would hike prices of its vehicles due to various factors.
"There is a lot of pressure on our margins due to the foreign exchange fluctuation and rising input costs," he had said.
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