Indian Suzuki car manufacturer Maruti Udyog Ltd has increased its prices with immediate effect, report Asian internet news sources (10/01/01).
The Maruti 800 – the largest selling Indian car based on a previous-model Suzuki Alto – is up by Rs 2180 ($US47), the price of the Zen base model has increased by Rs 4157 ($US90), the Esteem by Rs 5172 ($US111), the Alto up by Rs 7640 ($US164) and the Baleno by Rs 12,271 ($US273). The increases may not seem high to Western eyes but they represent substantial monetary increases in low-income India.
In a statement issued in New Delhi on Wednesday (10/01/01), the company said that a ‘nominal price increase’ had been effected of between 0.3 and 2.5 per cent on the various models.
The company said increased production and raw material costs during the last quarter alongside the depreciation of the rupee were the main factors resulting in the price rise.