Maruti Suzuki India, one of the country’s leading auto manufacturers has said it will hike prices on its entire range of vehicles ranging between Rs. 3,000 and Rs. 10,000. The new prices will be implemented from the first week of October. With rupee depreciating in recent times, auto makers are forced to pass on the input costs and import burden on to the customers. Other auto makers such as General Motors, Hyundai and Tata Motors have also planned to increase prices of its vehicles. With Raghuram Rajan joining as the new Governor of RBI, rupee has gradually started stabilising.
With higher inflation rate, it is unclear how Indian customers will react to Maruti cars price hikes.