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Tata Motors to hike prices from January 1 by up to Rs 25,000

Tata Motors to hike prices from January 1 by up to Rs 25,000
Bilal Firfiray Bilal Firfiray Monday 12 December 2016, 20:42 PM

Tata Motors has announced that it will hike the prices of its passenger vehicles. The increase in prices is in the range of Rs 5,000 to Rs 25,000 depending upon the model. The increase in the cost will be effective from the January 1.

Attributing the hike to various macro-economic factors, Mayank Pareek, president, passenger vehicle business said, “The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a resultant, we are forced to hike prices of our passenger vehicles. We are seeing good demand for our cars and have witnessed good growth owing to the Tiago. We are gearing up for our next launch of the Hexa in January 2017."

Tata isn’t the only manufacturer to hike the prices to compensate for the growing input costs. The reason for higher adjustment in vehicle prices is due to the rising input costs coupled with high prices of raw materials. Toyota recently also announced an increase in prices by up to 3 per cent across all models in their range from January 2017.

 

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