Price Hike Archives - Page 2 of 29

Stellantis India, the parent company of Citroën & Jeep, has announced a price hike across all models of these two brands effective from 30th April 2024. Details of the Price Hike The price increase will be up to 0.5 per cent, resulting in an increment ranging from INR 4,000 to INR 17,000 across the models. This decision has been attributed to escalating input costs and operational expenses. Impact on Citroën & Jeep Models Citroën currently has three cars in its lineup and is preparing to bring the fourth model. Jeep, on the other hand, currently sells four SUVs in India. The price hike will affect all these models, with the Jeep Compass and Meridian seeing a particular increase. The higher variants will see a higher price increase. However, the price difference has not been revealed yet. Stellantis India’s Market Position Stellantis India has been profitable with the Jeep brand, while Citroën is still striving to reach profitability. The company’s profitability in the country may be credited to its frugal investment approach and JV-based business model. Despite the price hike, Stellantis India is optimistic about its future in the Indian market and expects Citroën to join the profitability league soon. The price hike announced by Stellantis India is a reflection of the current economic conditions affecting the auto industry. While this may impact the short-term sales of Citroën and Jeep models, the long-term outlook for these brands in the Indian market remains positive. Also Read: Citroen Basalt Vision SUV Coupe spotted road testing without camouflage, launch ready?