Pune: The British car marque MG Motor and Japanese car giant Honda said on Monday that they plan to increase the prices of their entire model range from January 2024.
“This hike is owing to the rising costs attributed to overall inflation and increased commodity prices,” MG Motor said in a statement.
Kunal Behl, Vice President (Marketing and Sales) at Honda Cars India also said the company will “increase prices of its cars from January 2024”.
He said the model-wise amount of increase will be finalized by the end of this month.
Behl also said that the introductory pricing for the Honda Elevate SUV will be valid till December 23. Prices will be revised from January 2024.
MG Motor said it is coming out with special year-end offers effective towards the end of December 2023.
Earlier, Maruti Suzuki, Mahindra and Audi have also confirmed their plans to hike the prices of their models next month.
Meanwhile, Tata Motors and Mercedes-Benz are also mulling the same.
