As is the tradition, almost all the car manufacturers in India announce price hikes for their models at the start of the year. This year is no different. The country’s largest car manufacturer, Maruti Suzuki, has announced that it will increase the prices of its products across the board. However, the exact increase in the costs will be announced in January 2021. It will also depend on the models and variants in question.
Similarly, Hyundai products will start costing the buyers more post-December 2020. Again, the exact percentage of the hike will be announced in January itself. The reason for these regular hikes at the beginning of every year is the growing cost of raw material. So the car manufacturers adjust and update the prices accordingly.
The new player in the game, Kia Motors has also decided to increase the prices of its Seltos and Sonet SUVs. With the kind of success Kia has enjoyed with Seltos and Sonet, it is highly unlikely that customers will mind this hike. The demand for both these SUVs is very high at the moment and it does not look like it is changing anytime soon. Some variants of the Sonet already command waiting times of up to 10 weeks.
The all-new Nissan Magnite has also been launched with an introductory price tag of Rs 4.99 lacs. This offer is also valid till the end of December. After January 2020, Magnite will be costlier as well.
What is different in December?
Being the last month of the year, car manufacturers try to sell out all their stock for the year. In an effort to do that, they offer heavy discounts on their models, especially the ones which have not sold as much as they had expected. It is like a stock clearance sale. They want to get rid of their old products and concentrate on the upcoming new products.
The customers take full advantage of this sale and generally end up getting brilliant deals on their cars. Sometimes, instead of offering discounts, the manufacturers equip a model with accessories and sell these models as limited edition models. This makes customers feel like they own something special.
The only downside to this is that the year of model/manufacture might make your car look a year older than it actually is. It does play an important role for some customers. Also, the deals are generally on the cars which have not sold so successfully. But for all the other customers, they are happy to compromise on this front and in return get great compensation in terms of discounts.
So if you are someone who was waiting for great deals on your favorite cars, December just might be the best time to go ahead and buy it!