Maruti Suzuki India raised prices across their entire line-up of vehicles at a scale of Rs.1500 to Rs.8014 with immediate effect. However, their new offering Ignis has been excluded from this price hike which was said to have been initiated due to the price hike in commodities, transportation and administrative costs. All other vehicles sold through both Maruti Suzuki and Nexa outlets will be subjected to this increase in price.
Apparently, the end of 2016 had witnessed companies like Hyundai Motor India, M&M, Nissan, Toyota, Renault, Tata Motors and Mercedes Benz announce plans to increase prices on select models with effect from January 2017 owing to input costs and impact of foreign exchange rates. As for Maruti Suzuki, this is the second price hike in the current fiscal year. Last year in August 2016, MSI had increased Rs.20000 on Vitara Brezza, Rs.10000 on Baleno and Rs.1500- 5000 on a couple of other models. Although, India’s largest carmaker hasn’t yet announced the model-wise hike for now, the price hike is applicable on its entire line-up ranging from the Alto 800 to the premium crossover S-Cross.
Vitara Brezza and Baleno were among Maruti’s best sellers in second half of 2016 with a long waiting period. However, with the opening of their new plant in Gujarat in February, this waiting period is expected to come down as the company plans to produce as much as 15000 units of Baleno in the first quarter of 2017. Similarly, the Ignistoo has been reported to be performing well with more than 10000 bookings in last couple of days with a waiting period of 2 months on few variants. It is important to note that the country’s auto market leader continues to top the charts in spite of the increasing competition with new and updated vehicles streaming in here.