MG Motor announces price hike across SUV and CV
MG Motor announces price hike across SUV and CV (representational Image )
MG Motor, a car manufacturer with British origin, has experienced a 35 percent stake acquisition by Indian conglomerate JSW from Chinese owner SAIC.
As we approach the New Year, the company has announced its plans to increase the prices of all its vehicle models.
This includes the popular SUVs Hector, Hector Plus, Astor, and Gloster, as well as their two electric vehicles, Comet EV and ZS EV. It is worth mentioning that MG Motor had already raised the prices of its flagship SUVs, Hector and Gloster, back in August of this year.
MG Motor has provided a valid explanation for its recent price hike, stating that it is necessary to tackle the growing production expenses. In a statement issued today, the automaker clarified, “The increase in prices is a result of the escalating costs associated with general inflation and higher commodity prices.”
MG Motor has provided reassurance to its customers that it will implement exclusive year-end promotions in order to counteract the forthcoming price increase, although the exact magnitude of the hike remains undisclosed. These measures have been taken as a proactive approach to minimize the impact of elevated prices, which are set to take effect in January.
MG Motor has joined the bandwagon by announcing a price increase, making it the fifth major car manufacturer in India to do so. Prior to this, Maruti Suzuki, Tata Motors, Mahindra and Mahindra, and Honda Cars had already made public their plans to raise prices from January onwards. Hyundai Motor, the second-largest car manufacturer in the country, is also preparing to follow suit and raise prices for its models in the coming days.
The Hector and Gloster SUVs from MG Motor have undergone their second price increase within a three-month period this year. This recent adjustment follows the previous price uptick of up to ₹78,000, which varied depending on the model and variant. It is worth mentioning that this increase surpasses the one implemented by MG Motor in May, which affected all of its models.
Furthermore, the Hector SUV, which received a substantial update earlier this year, is scheduled to experience its third price hike in a span of twelve months. Priced at ₹15 lakh (ex-showroom) as a starting point, the Hector SUV is available in both petrol and diesel options, with the highest-end variant reaching a price of ₹22 lakh (ex-showroom).
