MG Motor India is anticipated to raise the value of its Hector and Hector Plus SUVs by ₹35,000 to ₹40,000 launching November 1, 2023, based on the variant.
MG Motor India decreased the prices of the Hector and Hector Plus SUVs by up to Rs. 1.37 lakh in September 2023 to celebrate its 100th anniversary. But now, the company is projecting to boost prices again due to increasing input costs.
The MG Hector presently costs between Rs. 14.73 lakh and Rs. 21.73 lakh, and the Hector Plus costs among Rs. 17.50 lakh and Rs. 22.43 lakh, both ex-showroom Delhi.
The price hike will probably make the Hector and Hector more costly than some rivals, like the Hyundai Creta, Kia Seltos, and Tata Harrier. Still, the SUVs offer good value for money, thanks to their many features and equipment.
Reasons for the price hike
MG Motor India is expected to raise the prices of its Hector and Hector Plus SUVs for a few reasons.
- Rising input costs : Increasing car manufacturing costs, such as raw materials and components, are forcing carmakers to raise vehicle prices.
- Weakening rupee : The weakening rupee has made car imports more expensive, further contributing to rising costs.
- Increased competition : MG Motor India may raise the prices of the Hector and Hector Plus SUVs to keep its profits high in the face of increasing competition from rivals like Hyundai and Kia in India’s mid-size SUV segment.
MG Motor India cut the prices of the Hector and Hector SUVs by up to Rs 1.37 lakh in late September 2023 to celebrate its 100th anniversary, but now plans to raise prices again from November 1st due to rising costs.
Impact on consumers
The price hike will likely make the Hector and Hector more expensive for consumers, but the SUVs are still expected to be popular due to their many features and equipment.
To avoid paying more, book your MG Hector or Hector SUV by November 1, 2023.
Also Read: Kia Carnival Facelift Exterior Changes: A Side-by-Side Comparison
