Tata Motors confirms Price Hike Of 2.2 Per Cent of passenger vehicles

July 18, 2018July 18, 2018BureauComments Off

New Delhi

Homegrown car-maker Tata Motors has announced that the prices of its passenger vehicles will receive a hike of up to 2.2 per cent from August to offset increased input costs. This is the second time the company has hiked the prices of its models in the last three months, as in April, the company increased the costs of its passenger cars in India by up to ₹ 60,000. The price hike will be across all models, although quantum will depend upon specific models.

Mayank Pareek, President Passenger Vehicles Business Unit, Tata Motors said, “We have been working on cost cutting, but the problem of input cost pressure is piling up and we will be taking a price increase on our passenger vehicles by August.”

Tata Motors currently sells a range of vehicles starting from entry level small car Nano to premium SUV Hexa with price ranging from ₹ 2.36 lakh to ₹ 17.89 lakh (ex-showroom, New Delhi).

According to Tata, the price hike in April did not impact the sales of the company and the company is confident of maintaining it with this price hike as well. Tata also revealed that although the industry grew 13.1 per cent in last year’s quarter one, the company grew by 52 per cent and has seen an upward growth in the past 28 months.