Tata Motors to increase prices of its passenger vehicles

17 Apr 2023 , 07:29 AM

In order to partially offset the rise in input costs, automaker Tata Motors said that it would raise the prices of its passenger vehicles starting on May 1. Depending on the version and model, the weighted average increase will be 0.6%, according to a statement from the firm.

After an increase in February, this will be the company’s second price rise for its passenger vehicles.

According to the statement, ‘Tata Motors has been absorbing a significant portion of the increased costs due to regulatory changes and the rise in overall input costs and is therefore compelled to pass on some proportion through this hike.’

The firm offers a selection of passenger cars, like as the Tiago, Tigor, and Altroz, as well as SUVs, like the Punch, Nexon, Harrier, and Safari, for costs between Rs5.54 lakh and Rs25 lakh.

The company raised prices earlier in February by an average of 1.2% across its portfolio of passenger cars with internal combustion engines (ICEs).

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