Kia Motors India, Hyundai India and Maruti Suzuki will all hike prices of their fashions, beginning January 2021. It is pretty frequent for automotive producers to hike prices at first of the calendar yr, owing to exchange-rate fluctuations and rising enter and materials prices. The transfer can be anticipated to assist the manufacturers improve gross sales in the final month of the yr.
Kia’s worth hike
Kia Motors has conveyed to its sellers that it is going to be making ‘an upward price correction’ for its Seltos and Sonet SUVs from January. The assertion mentioned, “The expected increase will be substantial. Exact extent of price increase will be intimated on January 1”. Interestingly, the doc has no point out of mountain climbing prices of the Carnival MPV, which has been Kia’s slowest vendor so far.
Currently, the Kia Seltos is priced from Rs 9.89 lakh to Rs 17.34 lakh, whereas the Sonet ranges from Rs 6.71 lakh to Rs 12.89 lakh (ex-showroom, Delhi).
Hyundai’s worth hike
Hyundai India may even hike prices of its fashions in the brand new yr. The producer has said that its whole vary will undergo the value revision due to rise in enter and materials prices. However, the extent of the value hike will solely be recognized in January 2021. Expect completely different worth hike increments relying on mannequin, variant and gasoline kind.
Maruti Suzuki’s worth hike
Much like Hyundai, India’s main carmaker Maruti Suzuki may even hike prices throughout its vary due to rising enter prices. While the model has not but revealed by how a lot prices will improve, the hike in prices shall be depending on the mannequin in query. Maruti hiked prices of its vary in January 2020 as properly, however count on the hike to be extra substantial for 2021, given the circumstances surrounding the COVID-19 pandemic this yr.
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