New Delhi: Both the leading carmakers Maruti Udyog and Hyundai Motor India on Thursday increased prices on select models with immediate effect.
The hike would make their products costlier by up to Rs 12,000 and Rs 3,500 respectively.
Post price hike, newly launched Zen Estillo and new WagonR will be costlier by Rs 3,500, a Maruti statement said.
The increase in Maruti 800, Omni, Alto, Swift(Petrol)Vxi and Esteem is Rs 2,000, it said, adding the highest hike was on Baleno and Gypsy King at Rs 12,000.
A major portion of this increase will go toward the dealers' margins to help them provide better services to the customers, Maruti said.
Hyundai, however, restricted the price hike to its flagship model Santro, which will now be dearer by Rs 2,500 to Rs 3,500.
Post price hike, the base model of Santro will cost about Rs 2.7 lakh (ex-showroom Delhi), while the top end will be tagged at about Rs 4.18 lakh (ex-showroom Delhi).
HMIL Managing Director HS Lheem said the price hike was due to the increasing input and freight costs.
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