On Wednesday, Nissan stated that it will rise prices of its vehicles in India by up to 5% across models from next month in order to counterbalance ostensible augmented costs. According to a Nissan Motor India statement, the modified prices will be applicable across all available models for Nissan and Datsun. The revised prices will come into effect from January 2021. As a part of its Datsun and Nissan brands, the Japanese brand sells a range of mass market vehicles. This includes Datsun Redi-Go, newly launched SUV Magnite and Kicks. The automobile brand has prices in the range of Rs 2.89 lakh to Rs 14.15 lakh.
Rakesh Srivastava, Nissan Motor India Managing Director, commented on the price rise. As per Srivastava, taking into consideration the existing challenging market conditions, the country is compelled to rise the price of all Nissan and Datsun models on account of increased costs. He further stated that the said price rise will come into effective from January 2021.
Apart from Nissan, other automobile manufacturers such as Mahindra & Mahindra, Ford India, Isuzu, BMW India, Audi India, Maruti Suzuki India, Renault India, Honda Cars, and Hero MotoCorp have declared already that they would surge prices from January on account of increased input costs.
Last few months have been kind of acid test for the automobile industry due to the lack of business sentiment among automobile enthusiasts. The lack of jobs and falling income has led to a lack of interest among customers across the globe. The impact of this step is to be seen.