Tata Motors To Hike Price Of Passenger Vehicle From Jan 1
New Delhi: Due to the impact of rising input costs and increase in fuel prices, Tata Motors recently announced that it will hike prices of its passenger vehicles models by up to Rs 40,000 from January 1, 2019. The company would be increasing the prices of its entire passenger vehicles range by up to Rs 40,000 (depending on the model and city).
The company’s passenger vehicles portfolio ranges from entry-level small car Nano to the premium SUV Hexa, priced between 2.36 lakhs and 17.97 lakhs.
In a statement, Tata Motors President of Passenger Vehicles Business Unit Mayank Pareek said, “The changing market conditions, rising input costs, and various external economic factors have compelled us to consider this price increase.”
Pareek added that despite the price hike, Tata Motors is optimistic about maintaining our growth trajectory in the coming year on the back of our robust portfolio.
Interestingly, Tata Motors joins other companies such as Maruti Suzuki, Toyota Kirloskar, BMW, and Isuzu, which will increase prices of their vehicles from January due to the impact of an increase in commodity prices and foreign exchange rates.