If you have been thinking of buying a Tata car, it’s time to book one soon! Home-grown auto major Tata Motors is set to raise prices of its passenger vehicles by up to Rs. 25,000 due to increase in input costs. Tata Motors said the increase in prices would be effective from January 1st and the price rise may range from Rs 5,000 to Rs 25,000 depending upon the model.
Mayank Pareek, President of Tata Motors (passenger vehicle business) said, the increase in the prices of raw materials such as steel, copper, aluminium and rubber over a period of time has put a lot of pressure on them. They are therefore compelled to increase the prices of their passenger vehicles.
He also said that the company had witnessed month-on-month growth on the back of the newly launched Tiago.
Starting from entry-level small car Nano to hatchback Tiago and crossover vehicle Aria, Tata Motors sells a range of passenger vehicles in the price range of Rs 2.18 lakhs to Rs 17.29 lakhs.
This decision to raise prices came after Renault India and Toyota Kirloskar Motor (TKM) announced their price hike plans, owing to increased input cost and consistent upward trend in foreign exchange rates. Both of these companies will be increasing their vehicle costs by up to 3% effective from next month.