Maruti hikes prices marginally
By Our Corporate Bureau | 10 Jan 2004
New Delhi: Maruti Udyog Ltd on Friday marginally raised prices of most its models to offset higher input costs. Maruti's largest selling models, the 800, Alto, Zen, WagonR and Esteem, will now be dearer by 0.2 per cent to 0.75 per cent.
The price hike would have been higher but for the reduction in the peak customs duty announced by the Government on Thursday, the company said in a statement here.
Maruti 800 will now be dearer by Rs 1,526 (Ex-showroom Delhi) while Omni van will cost Rs 1,239 more. Prices of Alto models are up Rs 671 and WagonR Rs 1,500.
Zen Lx and Lxi models will cost Rs 2,000 more, while the Vxi model will be dearer by Rs 1,069. Maruti has hiked prices of Esteem models by Rs 1,053. Prices of Beleno, Gypsy and Versa have not been increased.
A Maruti 800 standard model will now be priced Rs 2,04,828 as compared to Rs 2,03,302. The new price of Omni 8 Seater is Rs 2,23,246 while Alto Lx is priced at Rs 2,65,684 now. The Zen Lx model will now cost Rs 3,34,574 and WagonR Lx Rs 3,26,904. The new price of Esteem LX model is Rs 4,67,700. (All prices ex-showroom Delhi).
Maruti said the prime reasons for the price hike are the increased cost of inputs such as steel, appreciation of yen against the dollar and rupee, which made imports more expensive and investments made into upgrading WagonR and Zen.
"Following the reduction in customs duty, the company decided to pass on the benefits to the customer. As a result, the extent of the hike is marginal," Maruti said.
