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Kia To Hike Prices Again From January 01 – Check Out All The Details
Kia Motors India has decided to hike the prices of its passenger cars from January 2023 onwards along with a few other car manufacturers in India.
Diving into details about the upcoming price hike, Kia Motors India has announced that the prices of its passenger cars will be hiked by Rs 50,000.
The latest price hike from Kia Motors could be linked to increased input costs due to upcoming stricter emission norms. These new emission norms are said to be another massive transition in automobile emission norms as the Government is implementing Real Driving Emissions (RDE) norms from April 2023 onwards.
Speaking about RDE, these latest test norms require emission testing that is representative of the real-world usage of the respective automobiles. This is a lot more challenging for car manufacturers as the end emission is affected by various parameters such as road conditions, altitude, ambient temperature, and many more.
To monitor the emissions, newer cars will be fitted with a self-diagnostic device. This device is set up to monitor oxygen sensors, catalytic converter and other sensors as well. On top of that, emissions such as sulphur, CO2, nitrogen oxide and particulate matter are also monitored.
It is also worth mentioning that, Kia Motors is not the only car manufacturer that has announced price hike in India. In fact, leading car manufacturers such as Maruti Suzuki, Tata Motors, Audi, Mercedes-Benz and Renault have also announced price hikes from January 2023 onwards.
That being said, though the recent price hike will bottleneck the growth of the automobile industry in India, we expect car sales to improve within a very short span of time. Moreover, the more stringent emission norms will also push automakers to make cleaner and greener vehicles.
Recently, Kia Motors India even hiked the price of the Kia Carens MUV and the prices for the MUV have been hiked up to Rs 50,000. That being said, prices for the Kia Carens MUV now starts from Rs 9.99 lakh (ex-showroom, India) post the implementation of the second price hike.
Thoughts About Kia Motors Price Hike
We expect Kia'ssales figures to take a minor hit for the first couple of months post the proposed price hike of Rs 50,000. However, we expect the South Korean automaker to bounce back stronger. That being said, the upcoming emission norms will push the price tag of all new cars in India.
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