New Delhi : Automobile major Maruti Suzuki Thursday said all its cars will cost more from next week due to a hike in commodity input prices and the weakening of the rupee.
“We will be hiking the prices of our cars by next week as there has been a surge in the commodity input prices and due to the depreciation of the rupee,” Mayank Pareek, managing executive officer (Marketing and Sales) of Maruti Suzuki India Ltd, told IANS on the sidelines of the 11th Auto Expo here.
“I can’t comment on how much the hike will be as we are still working on it,” he added.
Offering 14 different car models ranging from hatchbacks to sports utility vehicles, the company has been going through a rough patch due to a recent strike in its Manesar, Haryana plant and constantly declining sales.
“We lost a hundred thousand vehicles due to the strike but thankfully it’s over now,” said Pareek adding that the company would ramp up its production from the current 1.5 million units to 1.8 million units annually soon.
“We will be bringing in new models and will introduce more diesel engines across our lineup of cars to boost sales,” said Shinzo Nakanishi, the Maruti Suzuki managing director and chief executive.
The 11th edition of the Auto Expo will conclude Jan 11. The event at the sprawling Pragati Maidan exposition grounds promises a slew of launches and first-time exhibits of vehicles in virtually every segment and hopes to draw some 500,000 footfalls, the organisers said.
Held every two years, the event is being co-hosted by the Society of Indian Automobile Manufacturers (SIAM), Confederation of Indian Industry (CII) and Automotive Component Manufacturers Association (ACMA).