Mumbai :
Kia India, the South Korean car manufacturer, has announced a significant price hike across its product range, leaving customers facing higher costs for their coveted Kia vehicles.
Effective from the start of next month,
the company’s decision to increase prices comes amidst various economic factors impacting production costs and supply chain dynamics.
Reasons Behind the Price Increase:
The decision to raise prices, set to take effect from April 1, 2024, stems from the escalating prices of commodities and the challenges within the supply chain.
The company has cited these factors as contributing to the need for the price adjustment, indicating the complexities faced by automobile manufacturers in the current economic landscape.
Impacted Models:
The price hike will affect popular models such as the Kia Seltos, Kia Sonet, and Kia Carens.
This marks the first price adjustment of the year for Kia India, indicating the evolving market conditions driving such decisions within the automotive sector.
Statement from Kia India:
Hardeep Singh Brar, Head of Sales and Marketing at Kia India, emphasized the company’s commitment to delivering premium and technologically advanced products to its customers.
However, Brar highlighted the challenges posed by continuous increases in commodity prices, unfavorable exchange rates, and rising production costs, leading to the necessity of implementing a partial price increase.
Company Performance:
Kia India has maintained a strong presence in both domestic and international markets, with a cumulative sales figure of 11.6 lakh vehicles sold thus far.
Despite the challenges, the company remains focused on providing quality vehicles to its discerning customer base.
