Asia Bizz: As expected, Indian auto giant Maruti Suzuki has hiked the prices of its cars due to high input costs. The company has hiked the priced between Rs. 2,400 to Rs. 17,000 across their models.
Maruti Suzuki has hiked the prices of the cars, except the Dzire. The new prices of the car will be effective from Jan 16, 2012. The spokesperson of the company said that the import of the components became expensive due to the sharp depreciation in rupee in the Oct-Dec quarter.
In India, other auto car makers like Mahindra & Mahindra , General Motors, Renault, Ford India, Hyundai Motors and Toyota have already hiked the prices of their cars from Jan 1, 2012 onwards – M&M has raised the prices by 3% across its products in the country.
The other car makers like General motors, Toyota Kirloskar, and Hyundai Motors have also hiked its prices by 1% to 2% in its range. The recent depreciation in the Indian rupee was the main culprit for the price hike in the country. The depreciation has not only affected the automobile industry but also the mobile industry across the country. Many of the mobile companies were forced to hike the prices of the mobile phones due to the depreciating value as well as the high input of production.