Kia India has announced that it is planning to increase the prices of its vehicle range by 3 percent. The company stated that the price hike will be implemented on April 1, 2024. The automaker decided to hike prices due to surging commodity costs and supply chain-related inputs. Additionally, Kia emphasized that this will be the first price hike from the brand this year.
The auto marque has not shared the quantum of the price surge on its models, but one can expect costs to vary as per the model and trim. The South Korean automaker currently retails four cars in the Indian market: the Seltos, Carens, Sonet, and EV6. The Kia Sonet is the company’s most affordable offering in India. It is available at a starting price of INR 7.99 lakh, and it goes up to INR 14.69 lakh (ex-showroom). The Carens MPV is priced between INR 10.45 lakh and INR 18.95 lakh (ex-showroom). On the other hand, Kia Seltos is the company’s bestseller, and it comes at a starting price of INR 10.90 lakh (ex-showroom) and goes up to INR 20.30 lakh (ex-showroom).
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The National Head (Sales and Marketing) at Kia India, Hardeep Singh Brar, commented on the price change and said, “At Kia, we consistently strive to deliver premium and technologically advanced products to our esteemed customers. However, due to the continuous increase in commodity prices, adverse exchange rate and rising input cost, we are compelled to implement a partial price hike. The company is absorbing a significant portion of the increase, allowing customers to continue driving their favourite Kia cars without a major dent in their pockets."
Kia is one of the leading automakers in the Indian automotive market. The brand set foot in India in 2019, and since its arrival, it has made remarkable growth on the sales chart. The company has sold nearly 1.16 million units in the country. The Kia EV6 is a premium electric SUV, and it arrives in India as a Completely Built Unit (CBU). The South Korean auto marque recently issued a voluntary recall for 4,358 units of the Seltos CVT. The affected models were produced between February 28 and July 13, 2023. According to the manufacturer, the purpose of the recall is to fix a possible issue that could affect how well the electronic oil pump in the car's transmission functions.
Apart from Kia, other manufacturers like Mahindra and Mahindra, Maruti Suzuki, Tata Motors, Audi, and Honda Cars India have also increased the prices of their models recently due to surging commodity costs and supply chain-related inputs.