Adding woes to potentially many hardpressed car buyers in India, Maruti Suzuki has said that there will be a hike in prices across its model range thanks to rise in input costs and unfavorable foreign exchange rates.
The carmaker says that fluctuating Japanese Yen has put in a lot of pressure on the margins and that rising input costs have hit them hard and have further fueled the trouble. Prices will be upped within a week’s time though the details of the hike aren’t out yet.
With launch of the much-anticipated Alto 800 just around the corner, the carmaker is also looking to export it overseas in order to lessen the impact of unfavorable Yen. The Alto 800 is expected to go the export route by year-end, by which time it will give company to export models including the Ertiga and the A-Star.
Source: NDTV Profit