New Delhi, Aug 01: Auto companies continue to increase their vehicle rates. Maruti Suzuki India (MSI), one of India's leading automaker, has also hit a price bomb for consumers. Maruti on Wednesday said it will increase vehicle prices of various models.
These increased prices will effect from this month. This decision has been taken with negative effects on goods prices, foreign exchange uncertainty and fuel prices growth.
Maruti Suzuki India Senior Executive Director (Marketing and Sales) RS Kalsi said: "The prices of the fuel and logistics expense have also affected the foreign exchange rate. He said the price would be hiked based on the models.
Sales of Maruti Suzuki India Ltd declined for the first time in 19 months in July on weak demand for its Alto and WagonR models.
R S Kalsi told media, "This question has been coming for quite some time. We have been analyzing the adverse movement of commodity prices — going towards the higher side."