Friday, Dec 24, 2004
Friday, Dec 24, 2004 |
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By Our Special Correspondent
CHENNAI, DEC. 23. Maruti Udyog Ltd. (MUL) is reportedly preparing to increase the prices of its vehicles across all models next month. The rising steel and plastics prices and the rupee appreciation against the dollar are among the myriad reasons citied by the company for the proposed hike in vehicles prices. According to informed sources, the company has already communicated to its dealers about the imminent price hike. The increase in prices could be between Rs. 5,000 and Rs. 20,000 for various models across varied segments. Popular models such as the Maruti 800m, the Omni and the Esteem will also see increase in their prices. Maruti had hiked the prices in July last on account of cess. The price increase then was about 0.38 per cent. The quantum, however, varied from Rs. 792 to Rs. 2,153 on different models. In August, however, it dropped the prices of Zen and WagonR by Rs. 7,000 to Rs. 13,000. Sources say that a combination of factors has put cost pressures on the company and that a price hike is unavoidable.
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