MG Motor Price Hike Alert: Don’t Miss Out Before January 2025!
MG Motor India has announced a price hike across its entire portfolio, effective from January 2025. The British-origin carmaker, now part of JSW Group, joins the ranks of Maruti Suzuki and Hyundai Motor, which also recently declared price increases. MG Motor’s price adjustment will see costs rise by up to 3%, depending on the model. This move comes as the company grapples with rising input costs and inflationary pressures.
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MG Motor Price Hike Alert: Which MG Models Are Affected?
The price hike will impact MG Motor’s popular lineup, including:
- MG Hector
- MG Hector Plus
- MG Gloster
- MG Astor
- MG ZS EV
- MG Comet EV
- MG Windsor EV
The Comet EV, India’s most affordable electric car starting at ₹7 lakh (ex-showroom), and the recently launched Windsor EV, which features a unique battery-on-rent scheme, are among the models that will see a price increase.
Why the Price Hike?
MG Motor has attributed the price hike to rising input costs and other external economic factors. Satinder Singh Bajwa, Chief Commercial Officer at JSW MG Motor, explained, “Minor price adjustments are inevitable to offset the rising input costs. While we try to minimize its impact on our customers, a marginal price increase shields us from inflationary challenges.”
This announcement follows similar moves by other automakers:
- Maruti Suzuki will increase prices by up to 4% across its portfolio.
- Hyundai Motor plans to raise prices by up to ₹25,000 on its models.
MG Motor’s Growing EV Sales
Despite the upcoming price hike, MG Motor has been riding high on the growing demand for its electric vehicles. In November 2024, the company recorded a 20% jump in sales, with EVs like the ZS EV, Comet EV, and Windsor EV contributing over 70% of total sales. MG Motor sold 6,019 units last month, showcasing the increasing popularity of its electric offerings.
Key Highlights of MG’s EV Lineup:
- Comet EV: India’s most affordable electric car, starting at ₹7 lakh.
- Windsor EV: Introduced in October 2024, featuring a first-of-its-kind battery-on-rent scheme.
- ZS EV: A premium electric SUV with a strong foothold in the market.
What This Means for Buyers
For prospective buyers, the announcement means that now is the best time to purchase an MG vehicle before the price hike takes effect in January 2025. With rising input costs affecting the entire automotive industry, price increases are becoming a trend across manufacturers.
MG Motor’s decision to increase prices reflects the broader challenges faced by the automotive industry, including inflation and rising production costs. However, the brand’s strong focus on electric vehicles and innovative offerings like the battery-on-rent scheme for the Windsor EV continue to set it apart in the market.
If you’re considering an MG vehicle, act fast to lock in current prices before the hike in January 2025. With a growing portfolio of SUVs and EVs, MG Motor remains a strong contender in India’s competitive automotive landscape.
Stay tuned for more updates on the latest car news and trends!
