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Tata Motors to soon increase passenger vehicle prices

Tata Motors to soon increase passenger vehicle prices
Nikhil Puthran Nikhil Puthran Monday 03 October 2016, 18:10 PM

A while ago some of the major names in the automotive segment like Hyundai, Mahindra and Maruti Suzuki had hiked their vehicle prices citing increase in input cost. This time around, Tata Motors has revealed that they might hike their vehicle prices soon to offset rising input cost. Though the company has not revealed as to when and how much the price hike could be, it is believed that the revision might happen during the festive season itself.

Mayank Pareek, president (Passenger Vehicles Business Unit) Tata Motors, stated that increase in input costs have resulted in major automakers revising the prices. The company is working out on the details and will reveal the new revised pricing soon. Automakers like Hyundai and Maruti Suzuki have hiked prices by about Rs 20,000, while Mahindra has hiked it by up to 1 per cent and it is likely Tata Motors might also hike its prices across models by a similar margin.

Back in August, Tata Motors witnessed 16 per cent rise global sales at 86,288 units and 13 per. cent increase for the period April to August on a year-on-year basis. The festive season has always seen a major rise in car sales in the country, with a minor hike in prices, it is not likely to affect potential customer decision to drive home a new car this festive season.  

 

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