India's biggest auto conglomerate, Maruti Suzuki India Limited (MSIL), on January 18 announced that it has hiked its vehicle prices by up to Rs 34,000 ex-showroom in Delhi with effect from January 18.
The auto giant said that the rise in input costs, including a steep hike in steel and raw material costs, was the reason behind hike in car prices.
According to the industry sources, Maruti Suzuki India has raised the price of Alto by up to Rs 9,000, while Espresso will cost Rs 7,000 more. For Baleno, the price has been hiked by up to Rs 19,400.
Likewise, the price of WagonR has been increased by up to 2,500 to Rs 18,200. Meanwhile, Brezza will cost Rs 10,000 more and Celerio's price has been hiked by up to 14,400.
Maruti Suzuki had further said that Indian sales increased 17.8 pc to 1,46,480 units last month as against 1,24,375 units on a year-on-year basis. It added said that sales of mini cars, comprising Alto and S-Presso, increased by 4.4 percent to 24,927 units as compared to 23,883 in the same month last year.
Shares of Maruti Suzuki India Ltd today closed @ Rs. 7768.40 per unit, down by 3.19 percent from its previous closing on the National Stock Exchange today.