Rates got high in the festive season
Amid increasing demand during the festive season, automobile manufacturers have increased the prices of best-selling cars and SUVs from October 1. Because of this, now consumers buying a new car will have to spend a little more money. Mahindra & Mahindra has increased the prices of its Thar, Scorpio, XUV300 and XUV700 models by up to Rs 81,000.
Bhavika Nandwana
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While South Korean auto major Kia has increased the price of its popular SUV Seltos and multi-purpose vehicle Karen by up to Rs 50,000. The country's second largest car manufacturer Hyundai has increased the prices of its SUV Venue and Tushaw by up to Rs 48,000.
Japanese carmaker Honda has marginally increased the prices of its popular City and Amaze models by around Rs 8,000. Car makers have been claiming that input prices had increased last year, but they decided not to pass on the increased costs to consumers at that time. Apparently, since demand for these popular models has remained stagnant, with some of them even having waiting lists of customers, auto companies have decided to increase prices.
Kia India said that the company had introduced the starting prices as an introductory offer and now in the case of its Seltos, the change has been made after six months. Car manufacturers keep an eye on each other's prices because they do not want to lose market share in a highly competitive market. Therefore, it is not unusual for them to look at each other when prices rise.
