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Nissan Magnite's launch at a special introductory price of Rs 4.99 lakh is easily one of the major highlights of this year. It is almost 1.7 lakh cheaper than the nearest rival Kia Sonet in terms of pricing in the subcompact SUV segment. With the launch of Magnite, Nissan is aiming to break into the uber-competitive and lucrative subcompact SUV segment. Such is the customer response that Magnite's bookings have crossed the 15,000 mark within 17 days since its launch on the 2nd of December 2020. With such an affordable price, it is giving competition to rivals like Tata Nexon, Kia Sonet, Maruti Vitara Brezza and Toyota Urban Cruiser in the country. The base variant currently retails at a price tag of Rs 4.99 lakh (ex-showroom) till the 31st of December 2020. Post that, the price would increase to Rs 5.54 lakh (ex-showroom). With such an affordable pricing, the base XE variant seem to be in high demand with its waiting period going up to as much as 6 months.