Nissan Magnite price revision makes most variants costlier by 30 grands
As Nissan Magnite continues to bolster the manufacturer’s forward journey, the company has now decided to increase price. The new prices are effective since March 2, 2021. This doesn’t affect bookings that have already been made as the old price will hold true. Those that have only just begun thinking that Magnite is the car to buy, depending on variant selection, one would need to shell out 30k more.
Nissan Magnite sales
This isn’t altogether unexpected and was in fact an awaited move. Considering Magnite is a fairly recent launch, the first price list is more of what one would could refer to as an an introductory price.
For now, Nissan has a lot pinned on Magnite. Only a week earlier, Nissan India confirmed 40,000 bookings for the compact car. This is no ordinary feat for the automaker that hasn’t seen this level of production and sales activity in years.
In February alone, 4,244 units were sold. To date, upward of 6.5k units have been sold. Waiting period, depending on variant and city extends upto 7 months in some instances.
Price still begins at Rs 5.49 lakhs for the manual XE variant. Price is unchanged for Magnite MT XL at Rs 5.99 lakhs, Magnite MT XV at Rs 6.68 lakhs, and MT XV premium at Rs 7.55 lakhs. All other variants are available at an increased price point by 30,000 bucks. Considering the competitive price range, no Magnite variant has yet crossed the retail price of over 10 lakhs.
Nissan Magnite price hike
The current price revision is the second such hike that Nissan India has undertaken in 2021. The last time around, the company only hiked the price tag of its entry level XE variant to Rs 5.49 lakhs from the early starting price point of Rs 4.99 lakhs.
And while entry price points work well to attract one’s attention, there’s a number of reasons why an entry level car isn’t the most sold variant. They include extended wait times, upselling by the dealership, and not enough features, to name a few.
| Magnite NA | New Price | Old Price | Diff |
|---|---|---|---|
| XE | 5,49,000 | 5,49,000 | 0 |
| XL | 5,99,000 | 5,99,000 | 0 |
| XV | 6,68,000 | 6,68,000 | 0 |
| XV P | 7,55,000 | 7,55,000 | 0 |
| Magnite Turbo | New Price | Old Price | Diff |
| XL | 7,29,000 | 6,99,000 | 30,000 |
| XV | 7,98,000 | 7,68,000 | 30,000 |
| XV P | 8,75,000 | 8,45,000 | 30,000 |
| XV P (O) | 8,85,000 | 8,55,000 | 30,000 |
| XL CVT | 8,19,000 | 7,89,000 | 30,000 |
| XV CVT | 8,88,000 | 8,58,000 | 30,000 |
| XV P CVT | 9,65,000 | 9,35,000 | 30,000 |
| XV P (O) CVT | 9,75,000 | 9,45,000 | 30,000 |
In simple the turbo variants now entail a price hike, taking the entry level XL price tag to Rs 7.29 lakhs, above the earlier price point of just under Rs 7 lakhs. On the production front, Nissan and Renault share a plant in Chennai.
With Renault Kiger now launched, both manufacturers would need to streamline processes to ensure reduced wait time in order to dispatch high volume bookings in a timely manner. Earlier today Renault confirmed 1,100 deliveries of Kiger on day 1 of sales. It’s easy to see what Renault and Nissan are doing in the segment. To retain bookings and limit cancellations to industry-wide average would be a key priority for Nissan now.
