Tata Motors hikes PV prices by 0.9%
NEW DELHI: Tata Motors is raising prices of its passenger vehicles from Wednesday by 0.9% on an average due to an increase in input costs. On Saturday, the country’s largest carmaker Maruti Suzuki said it has increased the prices of its models by up to 4.3% because of similar reasons.
“While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through the minimal price hike,” Tata Motors said in a statement.
It added that the company has also taken a reduction of up to Rs 10,000 on specific variants, in response to feedback from customers. Besides, it said the hike would have no impact on customers who have booked their vehicles on or before January 18, 2022 as they would be offered price protection.
Tata Motors sells cars like Altroz, Tiago, Tigor, Punch, Harrier, Safari, among others. It also sells electric vehicles such as Nexon and Tigor, and will be launching CNG models on Wednesday. Auto companies have been increasing the prices of their vehicles over the last year due to the rise in input costs.