Kia Motors India, Hyundai India and Maruti Suzuki will all hike prices of their models, starting January 2021. It is fairly common for car manufacturers to hike prices at the start of the calendar year, owing to exchange-rate fluctuations and rising input and material costs. The move is also expected to help the brands increase sales in the last month of the year.
Kia’s price hike
Kia Motors has conveyed to its dealers that it will be making ‘an upward price correction’ for its Seltos and Sonet SUVs from January. The statement said, “The expected increase will be substantial. Exact extent of price increase will be intimated on January 1”. Interestingly, the document has no mention of hiking prices of the Carnival MPV, which has been Kia’s slowest seller thus far.
Currently, the Kia Seltos is priced from Rs 9.89 lakh to Rs 17.34 lakh, while the Sonet ranges from Rs 6.71 lakh to Rs 12.89 lakh (ex-showroom, Delhi).
Hyundai’s price hike
Hyundai India will also hike prices of its models in the new year. The manufacturer has stated that its entire range will go through the price revision due to rise in input and material costs. However, the extent of the price hike will only be known in January 2021. Expect different price hike increments depending on model, variant and fuel type.
Maruti Suzuki’s price hike
Much like Hyundai, India’s leading carmaker Maruti Suzuki will also hike prices across its range due to rising input costs. While the brand has not yet revealed by how much prices will increase, the hike in prices will be dependent on the model in question. Maruti hiked prices of its range in January 2020 as well, but expect the hike to be more substantial for 2021, given the circumstances surrounding the COVID-19 pandemic this year.
Audi India to hike car, SUV prices by up to 2 percent in 2021
MG Gloster price hiked by up to Rs 1 lakh; sold out for 2020