Maruti Suzuki Petrol Price Hike Protection Scheme

Following the biggest ever petrol price hike in India, car makers are struggling to sell petrol powered cars. The country’s largest passenger car maker, Maruti Suzuki, has rolled out the ‘Maruti Suzuki Petrol Price Hike Protection Scheme’ that will cover any hike in petrol prices between May 1, 2012 and May 1, 2013 for customers who buy a petrol Maruti Suzuki car. 

The scheme will cover hike in petrol prices for a year or 12,000km (whichever is earlier) from the date of purchase of the vehicle. 

The Maruti Suzuki Petrol Price Hike Protection Scheme is valid till June 30, 2012. 

The scheme will take into consideration any price hike between May 1, 2012 and May 1, 2013 and will cover any hike in petrol prices up to Rs 10 per litre of petrol within the period. What this means is that any hike (up to Rs 10) in petrol prices over Rs  65.64 (New Delhi petrol price as on May 1, 2012) till May 1, 2013 will be borne by Maruti Suzuki for petrol cars sold under the scheme. 

Hyundai, too, had introduced a Petrol Price Lock Assurance program for customers of the Santro and i10 in May. The program offers 360-degree services to Hyundai customers ranging from maintenance to roadside assistance.

The scheme is applicable on the Alto, Alto K10, Estilo, WagonR, A-star and Ritz).  

Customers who buy any of the above mentioned models will be given a copy of a certificate (the original will remain with the dealership) specifying the terms and conditions of the scheme. 

After a year, customers can submit the copy of the certificate with all required details to the dealership. The dealership will take into consideration factors like odometer reading, hike in petrol prices, ARAI claimed fuel efficiency of the vehicle to calculate the amount that is to be refunded to a customer under the Maruti Suzuki Petrol Price Hike Protection Scheme. 

Out of the total amount that has to be refunded to the owner, Rs 1,000 will be borne by the dealership while the rest of the amount will be paid to the customer by Maruti Suzuki. 

The scheme is only applicable to the first buyer of the vehicle. If the vehicle is sold within a year of purchase the benefit of the scheme cannot be availed of by another owner.  

(Update: ZigWheels has learnt that Maruti Suzuki has discontinued the scheme owing to the petrol price rollback)