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seltos price hike: Kia Motors to hike prices of Seltos from January 1, Auto News, ET Auto

New Delhi: The South Korean carmaker Kia Motors which made its debut in India with SUV Seltos is going to hike the prices of all its variants from January 1, 2020, the company communicated to its dealers in a document accessed by ETAuto.

Kia Seltos was launched in the Indian market in the month of August at a price range of Rs 9.69 lakh to Rs 15.99 lakh. As per the document, the SUV was launched at an introductory limited period price which will be continued till December 31, 2019, in the wake of high customer demand.

In the letter to its dealer principals, the company informed that they will be taking an upward price correction from 1st January 2020. The expected increase will be substantial and applicable to all variants of Seltos.

The company also mentioned that the price increase will be applicable on all undelivered customer bookings existing as on 31st December 2019.

Kia Motors has received 86,840 bookings for Seltos till date. With just one offering, the company has managed to break into the Top 10 PVs sold, emerging as the fourth largest automaker selling 14,005 units in November 2019.

The country's largest carmaker Maruti Suzuki India on Tuesday also said it will hike prices of its vehicles from January to offset rising input costs. Other car manufacturers such as Toyota, Mahindra & Mahindra and Mercedes-Benz are also contemplating a similar move.