Tata Motors To Increase Car Prices Soon
The price hike could be effective during the festive season, according to the company
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Despite the high demand for cars in the country’s ongoing festive season, Tata Motors has decided to increase the prices of its offerings in India. The domestic carmaker claims that it is doing so to offset the rising input costs.
"We will hike prices of our vehicles. Currently we are working out the details," president of Tata Motors’ passenger vehicles business unit, Mayank Pareek told PTI recently. Speaking about the expected date of this hike to come into effect, he said that “it could be during the festive season.”
"Input costs have increased and some of the industry players have already undertaken price hikes. Moreover, we have also not corrected our prices for a long time," he added.
The automaker’s line of offerings in the country ranges from the likes of the Nano small car to the Aria crossover; between the prices of Rs 2.15 lakh and Rs 16.3 lakh (ex-showroom, Delhi).
It has most recently seen the addition of the Tiago hatchback earlier this year. The car is said to trigger a series of fresh offerings from the Sanand-based carmaker, including some of the concepts that were showcased at the 2016 Auto Expo in Delhi.
Talking about recent price hikes, country’s top two manufacturers - Maruti Suzuki and Hyundai Motor India - had both increased prices across their portfolios by Rs 20,000.
Last month, even the home-grown SUV maker, Mahindra & Mahindra had announced a rise in prices by up to one per cent, effective from the month of October.
