MG Motor India is gearing up to hike the prices of its models. The highest hike is around INR 60,000 while the minimum hike is around the INR 30,000 range. This is not the first time MG has increased its prices this year. Within the first two months of the new year, this will be the second hike in prices.
According to the company, the new prices will be applicable from 1st March 2023. The memo for the hike is circulated amongst dealership owners, CEO / Business heads and the dealership sales managers.
The note also mentions to inform the customer of the same including the ones who’s bookings are currently pending. Do note that many times, the prices are applicable at the time of delivery and not booking. Unless of course the carmaker has announced price protection for certain models. But this is not applicable to MG.
As per MG, the Gloster and the Hector (diesel variants) will see the maximum hike. New buyers of these cars should expect to shell out INR 60,000 more than the current prices. Further, as these are the hikes in ex-showroom amounts, expect the road-tax, and insurance components to go up as well.
Meanwhile, the Hector petrol will see a price hike of INR 40,000 while the Astor will witness a premium of INR 30,000. Last but not the least, the ZS EV too will see increased rates. The electric car will now be dearer by INR 40,000.
Recently, MG Motor India released its retail sales report for January 2023. The sales figure stood at 4,114 units. The carmaker mentioned that there’s some improvement in the supply chain. And hence the production is regaining momentum. However, MG mentioned that some select variants of the manufacturer still remain impacted.
MG has reiterated its stand in developing a strong EV ecosystem in India. In order to achieve that, the company has tied up with various industry partnerships and other interventions. The manufacturer also recently showcased its new energy vehicles (NEVs) with fuel-cell technology at the Auto Expo. This along with pure-electric and plug-in hybrid tech forms a part of MG’s Drive.Ahead vision for future mobility.
Also Read – MG’s smart electric car for India spotted road testing.