MG Motor India plans 3% price hike to offset impact of higher costs

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MG Motor India on Friday said it will increase prices of its vehicles by up to three per cent from January to offset the adverse impact of higher input cost.

The company also said it will introduce a seven-seater version of its Hector Plus model next month.

In a statement, MG Motor India said it would "undertake a price revision across its product range in view of the miscellaneous cost increase. The price hike will range up to 3 per cent, depending on the model and will be applicable from January 1, 2021".

MG Motor India currently retails three models in India Hector, ZS EV and Gloster, which are priced between Rs 12.83 lakh and Rs 35.6 lakh.

Already, other automobile manufacturers such as Maruti Suzuki India, Ford India, Mahindra and Mahindra, and Hero MotoCorp have stated that they would be increasing prices of their respective vehicles from January in order to mitigate the adverse impact of rising input costs, especially raw materials and commodity prices.

The Hector Plus model is currently available in the six-seater version with captain seats. The seven-seater version will further expand the portfolio of Hector SUV model.

MG Hector is available in both petrol and diesel options along with the option of a 48V hybrid variant. The petrol version also comes with a DCT (dual-clutch transmission).