Maruti Suzuki to increase car prices by up to Rs 20,000 from January 16

Maruti Suzuki India, the country's largest car maker, has announced it will increase prices of its vehicles across models by up to Rs 20,000 from January 16 to offset pressure of adverse currency fluctuation.

The company sells a variety of models, starting from M800 to imported Kizashi, at a price range starting from Rs 2.09 lakh to Rs 17.52 lakh (ex-showroom, Delhi).

Maruti Suzuki had in December announced a price increase of 1-3 per cent.

"The price hike across all models will come into effect from tomorrow and will be up to Rs 20,000," Maruti Suzuki India Chief Operating Officer (Marketing & Sales) Mayank Pareek said.

In the second quarter of FY13, the company had posted a 5.41 per cent fall in net profit at Rs 227.45 crore, hit by an unprecedented violence at its Manesar plant and low sales and currency fluctuation.

Adverse foreign exchange movement had an overall impact of Rs 350 crore on the company during the July-September period this financial.

Pareek said the price hike has been necessitated due to increasing pressure on margins following the adverse currency fluctuation.

With inputs from PTI