Nissan will raise prices of the Magnite compact SUV by up to 3% from January 1, becoming the latest automaker to pass on higher costs to consumers amid sustained macroeconomic pressures. The Magnite is currently Nissan’s only model on sale in the Indian market.
Escalating costs drive industry-wide price hikes
Sources said the increase has been driven by rising input and logistics costs. Automakers across segments are facing similar pressures, compounded by the depreciation of the rupee against the US dollar and the euro, which has increased the cost of imported components and freight. The trend reflects a broader effort by manufacturers to protect margins in a challenging cost environment.
The Magnite is manufactured at the Chennai plant operated by Renault under a contract manufacturing arrangement for both domestic and export markets. Nissan sold its stake in the Chennai facility to Renault last year as part of a global restructuring exercise. While Renault now fully owns the plant, it continues to manufacture Nissan models under contract.
Portfolio Expansion
After a prolonged lull in launches, Nissan is preparing to expand its India portfolio. The company is set to unveil an all-new MPV, Gravite, in January, with a market launch planned by March next year. Later in the year, it will introduce the Tecton SUV, based on the new Renault Duster, which is scheduled to be showcased in India on January 26. Both models will also be produced at the Chennai plant, signalling a renewed product push in the market.
Nissan’s move follows a recent announcement by JSW MG Motor India, which said it will raise vehicle prices by up to 2% across its portfolio with effect from January 1, 2026, with the increase varying by model and variant.
Price hikes are also extending to the luxury segment. BMW and Mercedes-Benz have announced increases of up to 3% and 2% respectively from January 1, 2026, citing Forex volatility and rising operational costs. Audi India and Volvo are also evaluating price revisions, with a decision expected soon, sources said.
