Kia India to Hike Car Prices by 2% in January
By Rediff Money Desk, New Delhi Dec 09, 2024 15:48
Kia India will increase prices of its vehicles by up to 2% from January 1, 2025, citing rising commodity and supply chain costs. The automaker aims to minimize the impact on customers.
New Delhi, Dec 9 (PTI) Kia India on Monday said it will increase prices of its entire model range by 2 per cent from January.
The price hike, effective from January 1, 2025, is primarily due to rising commodity prices and escalating supply chain-related costs, the automaker said in a statement.
Kia India Senior Vice President Sales and Marketing - Hardeep Singh Brar said the company is committed to deliver technologically advanced vehicles of the highest quality to customers.
"However, due to the persistent rise in commodity prices, unfavourable exchange rates, and increased input costs, a necessary price adjustment has become unavoidable," he added.
Despite these challenges, Kia is absorbing a significant portion of the cost increase, minimising the financial impact on customers, so they can continue to enjoy their favourite models without a major dent on their pockets, Brar said.
Kia said it has cumulatively sold 16 lakh units in India and overseas markets till date.
The price hike, effective from January 1, 2025, is primarily due to rising commodity prices and escalating supply chain-related costs, the automaker said in a statement.
Kia India Senior Vice President Sales and Marketing - Hardeep Singh Brar said the company is committed to deliver technologically advanced vehicles of the highest quality to customers.
"However, due to the persistent rise in commodity prices, unfavourable exchange rates, and increased input costs, a necessary price adjustment has become unavoidable," he added.
Despite these challenges, Kia is absorbing a significant portion of the cost increase, minimising the financial impact on customers, so they can continue to enjoy their favourite models without a major dent on their pockets, Brar said.
Kia said it has cumulatively sold 16 lakh units in India and overseas markets till date.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.99 (+ 1.52)
- 58018780
- Mishtann Foods L
- 9.17 ( -5.17)
- 27555831
- Shree Securities
- 0.42 ( -6.67)
- 27309223
- AvanceTechnologies
- 0.90 ( -4.26)
- 25537567
- Rajnish Wellness
- 1.69 ( -2.87)
- 19267607
MORE NEWS
Zepto Cuts Losses, Revenue Doubles in FY24
Quick commerce firm Zepto narrowed its losses to Rs 1,248.6 crore in FY24, while...
KKR Sells 2.6% Stake in India Grid Trust for Rs...
Private equity firm KKR has sold a 2.6% stake in India Grid Trust for Rs 277 crore...
MFN Clause Suspension: India Needs Strategic...
Switzerland's suspension of the MFN clause in its tax treaty with India highlights the...