Maruti plans price hike; launches new WagonR models

Maruti Udyog has planned an across-the-board hike in prices even as the car market leader announced the launch of new variants of its WagonR model. The new-look WagonR and its LPG variant do not involve any price change for the time being. The revised prices will come into force by end-July, said managing director Jagdish Khatar.

The prices of the three petrol variants of WagonR range between Rs3.23-3.72 lakh while the two models of the LPG variant cost between Rs3.4-3.6 lakh.

"This is an introductory offer, we will review prices later," Jagdish Khattar, MD, Maruti Udyog is reported to have said. "We are in the process of working out a price revision and new prices would be announced by the end of this month," he said, adding that higher input and freight costs and a squeeze on margins have put automobile companies under severe pressure.

Earlier this month, the country's second largest car maker Hyundai had announced a price hike across various models, including the popular Santro.

Two-wheeler companies like Hero Honda and Bajaj have also seen margins falling due to rise in input costs. While Bajaj has already hiked prices of some of its models, Hero Honda is expected to announce a price revision by the month-end.