The leading automobile company Maruti Suzuki has announced the hike in the price up to Rs. 6,100 across models. The price revision is based on the ex-showroom price - Delhi. This changes will effective immediately that means from August 18.
Senior Executive Director of MSI had said that had said the company has been analyzing the adverse movement of commodity prices, which were going towards the higher side. He further added that the foreign exchange rate had impacted negatively to the company while fuel prices also have increased which reflects negatively on the logistic cost. Maruti Suzuki sells many models namely Alto, Wagon R, Eeco, Ignis, Ciaz, Baleno, Swift, Dzire, Brezza and S-cross across it Arena and Nexa channel.
The carmakers such as Tata Motors, Mahindra & Mahindra, and Ford increased the car price owing to the increase in raw material prices. The one rise in customs duty, input and freight costs, are also the reason behind the rise in the price of the automobile. Many luxury carmakers such as Audi, Mercedes, and Jaguar Land Rover had increased the prices in April 2018 due to customs duty hike. JLR and Mercedes-Benz enhanced price in the range of Rs 1-10 lakh to pass on the increase in custom duties. Suzuki company Honda also already enhanced the prices of its models in the range of Rs 10,000 to Rs 35,000, effective August 2018.