Maruti hike price of its cars next week
Maruti Suzuki which is the largest auto maker in the country, said on Thursday that it will hike the price of its cars in India from next week. The corporation has blamed higher input costs for this price hike. It is to be mentioned here that Maruti has already increased the price of its collection cars twice in the current financial year. The domestic car giant is struggling with shrinking margins due to a continuous rise in key row materials such as natural rubber, steel and aluminum. What has made the situation even more hard for the company is forcing in the value of the yen against the U.S. dollar, making imported parts costlier for the auto maker.
According to newest statement given to the reporters, Maruti's managing officer for sales and marketing, Mayank Pareek said, "We will have to increase it (car prices) now." He however has not revealed the dimension of this prospective price hike. The company will increase the monthly production of its highest selling small car Alto to 40,000 vehicles from 32,000 vehicles, currently. "We have asked vendors to ramp up supplies for the Alto as we envisage a major jump in volumes," another Maruti Suzuki India Ltd. official said.