Tata Motors Is Gearing Up For Its Third Price Hike Of 2021
The price hike is expected to come into effect from August, 2021
A rise in input costs seems to have set the ball (read price hike) rolling for carmakers, with Tata Motors becoming the latest to talk about a third increment in 2021. Previously, both Maruti and Honda have taken similar routes.
Tata Motors first hiked the prices of its vehicles in January 2021. At that time, the Tiago, Tigor, Nexon, Nexon EV, and Harrier were the models that became more expensive. The second hike came in May 2021, when the Altroz and Safari were also affected.
The Indian carmaker has attributed this upcoming hike in prices to the increase in overall input costs of steel and precious metals. A formal announcement detailing the price hike will be made in the coming days or weeks, and we expect the new prices to come into effect from August 2021.
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Statement from Tata Motors
Tata Motors, India’s leading vehicle manufacturer intends to shortly mark an appropriate increase in prices of its ‘New Forever’ range of Cars and SUVs. The steep climb in overall input costs, especially due to continuing rise in costs of essential raw material including steel and precious metals, necessitates a transfer of at least some part of this increase to end customers.
A formal announcement about the quantum of price increase is likely to be made within the forthcoming days/weeks.
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