MG Motor India has decided to follow the price hike trend, as its product range is all set to become expensive from January onwards.
MG Motor India will increase the prices of its product line-up by up to ₹90,000 from January 2023. The announcement was made after carmakers like Jeep, Renault, Kia India, Mercedes-Benz, and others announced an increase in the prices of their models. For those unaware, MG Motor India is highly expected to introduce a new model in our market sometime around 5 January 2023. Reportedly, the anticipated four-wheeler could be the new Hector Facelift. The Air EV and the Facelifted Hector Plus are some of the models that are expected to be launched by MG Motor India.
The OEM hasn't cited any reason for the price hike, but it could very well be to offset rising input costs. The same reason, along with currency fluctuations, has been given by some of the carmakers for increasing the prices of their products. The company is yet to announce an elaborate price break structure for its models.
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We expect the company to soon share an update regarding the revised prices of its models.