Nissan to hike prices from April, blames escalation in component costs
Nissan India on Tuesday announced it will hike prices across all models under Nissan and Datsun brands here starting April. Pointing to rising auto component prices, Nissan informed that while it has attempted to put off a hike for some time, it has now become imperative for it to do so.
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Nissan ended 2020 with quite a bang by launching its Magnite SUV. It was the most-affordable sub-compact SUV at the time and with its introductory price structure. Magnite has fared strongly in the Indian car market despite its long list of established rivals. Nissan, however feels that despite the price hike from April, its products will still be eyed favorably. "There has been continuous escalation in auto component prices, and we have tried to absorb this escalation over the last few months," said Rakesh Srivastava, Managing Director, Nissan Motor India. "We are now constrained to increase our prices across all Nissan and Datsun models, the increase varies from variant to variant, while still offering the best value proposition to its discerning Indian customers."
Nissan currently offers Magnite, Kicks and Sunny while the Datsun brand has Go, Go+ and Redi Go under its umbrella. Kicks and Sunny hardly fare well here but Magnite's runaway success is propelling Nissan forward.
Offered in 20 grade line-ups and over 36 combinations, Magnite is produced at the Renault Nissan Automotive India Private Ltd (RNAIPL) plant near Chennai.