Kia India has announced a price hike across its entire lineup, effective January 1, 2025, citing increased input costs, including rising commodity prices and supply chain challenges, as the reasons behind the adjustment.
09 Dec 2024 | 2378 Views | By Autocar Professional Bureau
Kia India has announced a price hike of up to 2% across its entire product range, effective from January 1, 2025. The decision has been attributed to rising input costs, including commodity prices and supply chain expenses.
Explaining the move, Hardeep Singh Brar, Senior Vice President – Sales and ...
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Kia India has announced a price hike of up to 2% across its entire product range, effective from January 1, 2025. The decision has been attributed to rising input costs, including commodity prices and supply chain expenses.
Explaining the move, Hardeep Singh Brar, Senior Vice President – Sales and Marketing, Kia India, stated that the company is adjusting prices due to sustained increases in commodity prices, adverse exchange rates, and higher operational costs. He also mentioned that Kia is absorbing a portion of the cost to limit the impact on customers.
Since its entry into the Indian market, Kia has achieved cumulative sales of 1.6 million units, including exports. The Seltos has emerged as the company's best-selling model, with over 670,000 units sold, followed by the Sonet with more than 480,000 units. The Carens has contributed 214,400 units, while the Carnival has accounted for over 15,000 units.
This move aligns with similar price adjustments across the automotive industry, where manufacturers are grappling with higher costs of raw materials, energy, and logistics.
Tata Motors also announced today that it will take a price increase of up to 3% across its passenger vehicles portfolio, including EVs. Effective January, 2025, the price increase will vary depending on model and variant, and is being taken to partially offset the rise in input costs and inflation, the company said.
Maruti Suzuki India announced plans to increase the prices of its vehicles starting January 2025. The hike, which is expected to be up to 4%, will vary across different models. The decision comes as a response to escalating input costs and rising operational expenses, according to a statement from the company.
Hyundai Motor India Ltd announced it will increase prices across its entire model lineup, effective January 1, 2025. The decision comes as Hyundai said it is facing mounting input costs, unfavorable exchange rates, and rising logistics expenses.
German luxury car manufacturer Audi (India) announced an increase in prices across its entire model range effective January 1. The hike will see ex-showroom prices rise by up to 3%. Audi attributed the price hike to escalating input and transportation costs.
BMW India too, recently announced a price hike of up to 3% across its entire model range, effective January 1, 2025. The decision was part of the company's strategy to address rising costs and maintain premium quality standards.
Ducati India recently announced a price revision for select models in its motorcycle lineup, which will take effect from January 1, 2025. The adjustment will be applicable to the ex-showroom prices of specific models and variants at all Ducati dealerships across India, including locations in New Delhi, Mumbai, Pune, Bengaluru, Chennai, Kochi, Hyderabad, Chandigarh, Ahmedabad, and Kolkata.
Similiarly, Mercedes-Benz India will revise ex-showroom prices of its entire model range, effective from January 2025. The price increase will be up to 3%, depending on the model. This adjustment was attributed by Mercedes-Benz to rising input costs, inflationary pressures, and increased logistics expenses, which have been impacting the company's operational costs and overall financial performance.
Industry analysts suggest that while such hikes may impact demand in the short term, they are often essential for manufacturers to ensure long-term financial stability and continued innovation in vehicle design and technology.