Maruti Suzuki India Limited (MSIL), India’s leading car manufacturer, has reportedly hiked the prices of its models by up to Rs. 17,000. The company’s decision to increase the prices came after the recently declared Union Budget called for a hike in excise duty. As per the Budget 2012-2013, announced by Finance Minister of India, Pranab Mukherjee, the excise duty will be raised from 10% to 12%. According to latest reports, Maruti Suzuki has added weight to the price tag of its small cars (M800) and mid-sized sedan (SX4).
As per the information given by Mayank Pareek, Managing Executive Officer (Marketing & Sales), Maruti Suzuki India Limited, "There has been an average increase in prices of our vehicles by 1.75 per cent after the Budget."
The latest report has revealed that Indian consumers will now have to pay Rs. 4200 to 5,900 extra for the company’s best selling model, Maruti Suzuki Alto (800 cc). Upon opening the MSIL’s official website, consumers would find that Alto will be available between the price range of Rs. 2.4 to 3.42 lacs (ex-showroom Delhi). Maruti Suzuki Alto K10 is now priced between Rs. 3.14 to 3.30 lacs (ex-showroom Delhi). This price range indicates that Alto K10’s price has been hiked by Rs. 5500 to Rs. 5700.
Similarly, Wagon R has been priced at Rs. 3.47 lacs to Rs. 4.37 lacs (ex-showroom Delhi). Therefore, Indian consumers who were looking forward to buy a WagonR will now have to pay Rs. 6,000 to 7600 more. Maruti Suzuki Swift, the manufacturer's premium hatchback, will now be available at a price tag of Rs. 4.44 to 6.76 lacs in Delhi-based showrooms. Thus, the model will be dearer by Rs. 7,700 to 11,900, depending on variants.
In a similar fashion, the new iteration of Swift DZire has also been affected by the recently declared Budget. The new Swift DZire will now be available at Rs. 4.8 lacs to Rs. 7.51 lacs (ex-showroom Delhi). This means that MSIL has hiked its price by Rs. 8,500 to 12,700. Indian buyers will have to pay Rs. 9,400 to 17,000 more in order to purchase the mid-sized sedan SX4. This model is available for sale in Delhi with a heavy price tag of Rs. 7.11 to 9.39 lacs.
