Automobile manufacturers have increased prices of popular cars and SUVs from October 1 due to rising demand during the festive season. Mahindra & Mahindra has raised prices of Thar, Scorpio, XUV 300 and XUV 700 models by up to Rs 81,000, while Kia has increased prices of Seltos and Carens by up to Rs 50,000. Hyundai has hiked prices of Venue and Tucson SUVs by up to Rs 48,000.
Honda has implemented a more modest price increase of around Rs 8,000 for its City and Amaze models. Carmakers had previously refrained from passing on increased input costs to consumers, but with sustained demand and waiting lists for these models, they have now decided to raise prices.
Kia India clarified that the earlier prices were introductory offers and the revision has been made after six months for the Seltos. Carmakers closely monitor each other’s prices to avoid losing market share in a competitive market, so it is common for them to follow suit when prices are increased.
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