As we are heading to a new financial cycle, the Indian automobile sector will receive a second price hike of the year. In this general practice, the Nissan Magnite has also announced a price increment on their entire model line-up, including the Magnite sub-4m SUV. The new prices will be effective from 1st April 2021. Nissan has quoted constant acceleration in the prices of auto components as the reason for the price hike move.
Currently, there are three products in Nissan India's line-up – Magnite (Rs 5.49 lakh to Rs 9.89 lakh), Kicks (Rs 9.49 lakh to Rs 14.64 lakh), and GT-R (Rs 2.12 crore). While the GT-R and Kicks are performing poorly in terms of sales, the Magnite is in huge demand, thanks to its well-loaded package in an affordable price range. Launched in December 2020, the brand has received over 40,000 bookings of the Magnite till now. And because of this tremendous interest of buyers, it is enduring a waiting period of up to seven months, depending on variant & city. However, the Japanese carmaker has only delivered over 6,500 units of the Magnite so far.
Coming back to the upcoming price hike, it will be the third price updation for the Magnite subcompact SUV. It had received its first price revision last year (only the price of base trim was hiked by Rs 50,000). And the second change hike was done in early March 2021, albeit only for the turbocharged variants.
For the people not in know, Nissan offers the Magnite in five variants: XE, XL, XV, XV Premium, and XV Premium (O). It is a petrol-only SUV that comes with two engine options – a 1.0-liter naturally aspirated petrol (72PS/96Nm) and a 1.0-liter turbo-petrol (100PS/upto 160Nm) unit. While the former is mated to a 5-speed manual gearbox only, the latter can be had with either a 5-speed manual or CVT automatic. In the Indian market, it goes up against the Kia Sonet, Hyundai Venue, Maruti Vitara Brezza, Mahindra XUV300, Toyota Urban Cruiser, Ford EcoSport, Tata Nexon, and Renault Kiger.
Beside Nissan India, carmakers like Maruti Suzuki, Datsun, and Renault have also announced to increase prices of their respective range.