The beginning of the new year may prove to be expensive for the customers of JSW MG Motor. The company has announced that the prices of all its models will increase by up to 3% from January 1, 2025. This decision has been taken due to rising input costs, exchange rate effects, and increased logistics costs.
JSW MG Motor India said in its statement that this change in prices is the result of ever-increasing production costs and external factors. Explaining the decision, the company’s Chief Commercial Officer Satinder Singh Bajwa said that JSW MG Motor is dedicated to quality, innovation, and sustainability.
He said that this slight price increase is necessary to deal with the rising costs. However, the main objective of the company is to keep its impact on the customers to a minimum.
Before this decision, the company, and other major automakers have also announced to increase the prices of their vehicles. Hyundai India has announced an increase of up to Rs 25,000 in the prices of all its models, which will be effective from January 1, 2025. At the same time, Maruti Suzuki has also decided to increase the prices of all its models by up to 4%. The company has said that this increase is being done due to an increase in production costs and operational expenses.
The effect of rising inflation and production costs can be clearly seen in the automobile sector in India. These companies say that due to rising input costs and inflation, it has become their compulsion to increase prices. However, efforts are being made to keep its impact on customers to a minimum.
Customers planning to buy a car in the new year will now have to pay a higher price. In such a situation, this news can be disappointing for many customers, as rising prices can put pressure on their budget. Nevertheless, automobile companies are trying to improve their products and maintain quality despite these challenges.