Maruti Suzuki will increase the prices of its entire range by up to Rs 10,000 from October first week. It is believed that the company has taken this decision mainly due to depreciation of rupee.
The quantum of price hike will vary between Rs 3000 to Rs 10,000 depending on different models and fuel types. The rupee value has fallen drastically in last few months, due to which the company’s operating cost would have risen. However, the decision to increase the price during the festive season might have been difficult, but can work due to positive buying sentiment.
"We have been wanting to raise the price for some time as our input costs went up severely, mainly on account of weakening of rupee. However, the market was not conducive. Now it has become inevitable," said Mayank Parekh, chief operation officer, marketing and sales, MSIL.
