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Maruti Suzuki puts up prices

Special Correspondent

— PHOTO KAMAL NARANG

COST PRESSURE: Shinzo Nakanishi, MD and CEO, Maruti Suzuki, addressing a press conference in New Delhi on Friday.

NEW DELHI: Maruti Suzuki, which reported a 36.52-per cent dip in its net profit for the second quarter ended September, on Friday increased the prices of all its models, except for Swift Desire and Swift’s diesel version. The price rise, applicable with immediate affect, is between Rs. 2,000 and Rs. 6,000.

The price of sedan SX4 has been increased by Rs. 6,000, while Swift’s petrol versions will cost Rs. 4,500 more. Similarly, the price of its flagship model Alto has been increased by Rs. 2,500, and that of Zen Estilo and WagonR by Rs. 3,000. Maruti 800 will cost Rs. 2,000 more, while Omni van will be dearer by Rs. 2,500 and Versa by Rs. 3,500.

Declaring its quarterly results, Maruti Suzuki said its net profit for the quarter stood at Rs. 296.10 crore against Rs. 466.50 crore in the same period last year, due to rising input costs and currency fluctuations. However, its net sales went up by 6.1 per cent at Rs. 4,806.30 crore (net of excise) against Rs. 4,529.70 crore.

“Macro economic parameters such as lack of credit availability, high interest rates and depressed consumer sentiment have affected our sales. Sharp increase of commodity prices, especially that of steel, and the company’s inability to pass it on fully to customers have affected profitability,” Maruti Suzuki India Managing Director and CEO Shinzo Nakanishi told reporters here.

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