Tata Motors price hike: According to a statement released by Tata Motors, the company will raise the prices of its passenger vehicles effective from May 1 to counteract the increase in input costs.
The price hike will vary depending on the model and variant, with a weighted average increase of 0.6 per cent.
This will be the second time Tata Motors will increase prices of its passenger vehicles after it hiked prices in February.
Tata Motors stated that it had been bearing a considerable portion of the increased expenses due to regulatory changes and overall input cost increases.
Therefore, the company is compelled to implement this hike to pass on some proportion of the costs.
Tata Motors offers a variety of passenger vehicles, including cars like Tiago, Tigor, and Altroz, as well as SUVs such as Punch, Nexon, Harrier, and Safari, with prices ranging from Rs 5.54 lakh to Rs 25 lakh.
In February of this year, Tata Motors raised prices on its portfolio of internal combustion engine (ICE) passenger vehicles by an average of 1.2 percent.
