Commenting on the price hike, Rakesh Srivastava, Sr. Vice President, Sales and Marketing, said, "In these adverse market conditions there is continuous increase in input costs on account of rupee depreciation and inflationary trends, this has made the price increase inevitable.
"We have been absorbing most of the costs but now we are compelled to consider the price increase. The quantum of price increase will vary from Rs. 5,000/- to Rs. 20,000/- across all our models."
The price increase across all the models would come into effect in January 2014.
--IBNS (Posted on 17-12-2013)