Kia is the latest OEM to announce an annual price hike for its models in India. The South Korean carmaker will increase prices of all cars across its India lineup by up to 2 percent from 1 January 2025 onwards. The reason cited for this price increase is primarily due to rising commodity prices and escalating supply chain-related costs.
Commenting on the price adjustment, Hardeep Singh Brar, Sr. Vice President, Sales and Marketing, Kia India said, “At Kia, we are committed to delivering exceptional, technologically advanced vehicles of the highest quality to our valued customers. However, due to the persistent rise in commodity prices, unfavorable exchange rates, and increased input costs, a necessary price adjustment has become unavoidable.”
Kia currently retails four models in India including Sonet, Seltos, Carens, Carnival, along with fully-electric CBU models like EV6 and EV9. Kia has sold 1.6 million units in India and overseas markets combined to date. This includes Seltos which has surpassed sales of 670,000 units sales, followed by Sonet with over 480,000 units, Carens with 214,400 units and Carnival with over 15,000 units.
Earlier, Maruti Suzuki, Mahindra, and Tata Motors have also announced a price increase on all their models for the next year. The reason cited for the price adjustment by all OEMs is more or less the same. Maruti will increase prices of all models by 4 percent whereas Mahindra and Tata have announced a price increase of up to 3 percent.
Kia upcoming model
Kia is currently gearing up to launch a brand new compact SUV in India. Named Syros, the latest offering from the Korean carmaker will break covers on December 19 before going on sale early next year. The vehicle will be slotted between Sonet and Seltos in the company’s lineup therefore creating a new segment of SUVs in the Indian market altogether.
