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Maruti Suzuki raises car prices by up to Rs 20,000

Maruti Suzuki raises car prices by up to Rs 20,000

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Maruti Suzuki India has increased the prices of its select models by Rs 1,500 to Rs 5,000 (ex showroom Delhi), country’slargest carmaker said on Monday.

The firm has raised the prices of Vitara Breeza and Baleno by up to Rs 20,000 and Rs 10,000, respectively.

The company attributed price rise to segment wise demand and forex movement. The hike will be effective from August 1, 2016.

Maruti’s latest offering Vitara Breeza was launched in March 2016 at Rs 6.99 lakh. The SUV is competing with Ford EcoSport, Mahindra TUV300, besides being pitched against Renault Duster and Hyundai Creta which are priced in the range of Rs 6.79 lakh to Rs 13.77 lakh (ex-showroom Delhi). Vitara Breeza was unveiled at the Auto Expo 2016.

Maruti launched Baleno in October 2015 at Rs 4.99 lakh, which now has a waiting period of almost 6 months.

Maruti last raised prices of its models by up to Rs 34,494 in order to offset the impact of infrastructure cess proposed in the Union Budget 2016-17.

The Maruti Suzuki stock closed 2.41 per cent or 114.60 points higher on the BSE.

(business today)