The company has cited increase in commodity prices, adverse exchange rate and rising input cost as reasons for implementing the price hike.
21 Mar 2024 | 5945 Views | By Autocar Professional Bureau
Kia India has announced an up to 3% price increase across all its mass models, including the Seltos midsize SUV, Sonet compact SUV and Carens MPV, starting April 1, 2024. This decision is attributed to the escalation in commodity prices and supply chain-related inputs. It marks the first price adjustment ...
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Kia India has announced an up to 3% price increase across all its mass models, including the Seltos midsize SUV, Sonet compact SUV and Carens MPV, starting April 1, 2024. This decision is attributed to the escalation in commodity prices and supply chain-related inputs. It marks the first price adjustment by the company this year.
Commenting on the price adjustment, Hardeep Singh Brar, National Head -Sales and Marketing, Kia India said, "Due to the continuous increase in commodity prices, adverse exchange rate and rising input cost, we are compelled to implement a partial price hike. The company is absorbing a significant portion of the increase, allowing customers to continue driving the cars without a major dent in their pockets".
Kia has sold almost 1.16 million units in India and overseas markets combined to date. Its best-selling product, the Seltos, has surpassed 613,000 unit sales, followed by the Sonet with over 395,000 units and Carens with 159,000 units.
As per SIAM industrt wholesales data, in the past 11 months of the current fiscal, Kia India has sold a total of 224,234 units, down 9% year on year (April 2022-February 2023: 2,47,728 units).