MG Motor India to hike prices across all car models from January

MG Motor India to hike prices across all car models from January

“The company is resolute in its pursuit of creating the best possible opportunities for customers to interact with the brand, and it continues to focus on improving customer experiences.” The text of the statement says

Official notice of an impending price hike for all of MG Motor India’s models was given in January 2024. The decision was announced in a statement on December 4 and is explained by rising expenses related to general inflation and higher commodity prices.

The statement said: “The company’s steadfast commitment to creating optimal opportunities for customers to engage with the brand remains intact, with an unwavering focus on enhancing customer experiences.”

To lessen the effects of the price increase, MG Motor has also launched several unique year-end promotions, giving potential customers the chance to take advantage of advantageous conditions ahead of the planned rise.

This announcement comes after MG Motor made a similar step in October, raising the price of the Hector SUV by 2-2.5 percent for all variants. Interestingly, there were no mechanical or aesthetic modifications made to this climb. The upcoming price change in January 2024 will be Hector’s fourth rise this year.

In keeping with market trends, MG Motor has announced plans to increase prices starting in January 2024, joining a group of significant Indian automakers that already include Maruti Suzuki, Tata Motors, Mahindra & Mahindra, and Honda Cars. The second-biggest automaker in the nation, Hyundai Motor, is allegedly considering raising the price of several of its models.

In the electric car market, MG Motor has drawn notice for its varied lineup, which includes electric vehicles (EVs). About thirty percent of MG Motor’s total sales in November 2023—4,154 units—were attributable to sales of electric vehicles, which included the Comet EV and ZS EV. With a starting price of Rs 7.98 lakh (ex-showroom), the MG Comet is among the most reasonably priced electric cars available in India. It is priced competitively. January is expected to bring price increases in the automotive industry, so it will be interesting to see how the Comet stacks up against vehicles like the Tata Tiago EV.

In a similar move, JSW Group announced last week that, as part of a strategic joint venture with SAIC, it had purchased a 35% share in MG Motor India. This action highlights how partnerships in the automobile sector are changing.

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