MG vehicles will be overshadowed on pockets from new year, announcement of 3% increase in price, many models including hector-estor will be expensive

Last updated:December 09, 2024, 11:21 IST

JSW MG Motor India said in its statement that this change in prices is the result of ever increasing production costs and external factors.

New Delhi. The start of the new year can prove to be expensive for JSW MG Motor customers. The company has announced that from 1 January 2025, the prices of all its models will increase by 3%. This decision has been taken due to rising input cost, impact of exchange rate and increase in logistics cost.

JSW MG Motor India said in its statement that this change in prices is the result of ever increasing production costs and external factors. The company’s Chief Commercial Officer Satinder Singh Bajwa explained the decision that JSW MG Motor is devoted to quality, innovation and stability. He said that this slight price increase is necessary to deal with the increase in cost. However, the main objective of the company is to keep its impact on customers at least.

Prior to this decision of the company, other big vehicle manufacturers have also announced to increase the prices of their vehicles. Hyundai India has announced an increase in the prices of all its models up to Rs 25,000, which will be applicable from 1 January 2025. At the same time, Maruti Suzuki has also decided to increase the prices of all its models by up to 4%. The company has said that this increase is being done due to production costs and increase in operational expenses.

The impact of increasing inflation and production costs in the automobile sector in India can be clearly seen. These companies say that increasing prices have become their compulsion due to rising input costs and inflation. However, efforts are being made to keep its impact on customers minimum.

Customers planning to buy a car in the new year will now have to pay a higher price. In such a situation, this news can be disappointing for many customers, because rising prices can cause pressure on their budget. Nevertheless, automobile companies are trying to improve their products and maintain quality despite these challenges.