Tata Motors to hike passenger vehicle prices
NEW DELHI:
Homegrown auto major Tata Motors is planning to increase prices of its
passenger vehicles during the ongoing festive season to offset rising input
cost.
"We
will hike prices of our vehicles. Currently we are working out the
details," Tata Motors, President, Passenger Vehicles Business Unit Mayank
Pareek told PTI.
When asked
how soon the price increase will be effected, he said: "It could be during
the festive season."
Explaining
the reasons for such a step, Pareek said: "Input costs have increased and
some of the industry players have already undertaken price hikes. Moreover, we
have also not corrected our prices for a long time."
Tata Motors
sells a range of passenger vehicles including the entry level small car Nano,
newly launched hatchback Tiago and crossover vehicle Aria at a price range of
Rs 2.15 lakh to Rs 16.3 lakh (ex-showroom Delhi)
Another
homegrown rival Mahindra & Mahindra has hiked prices of some of its
passenger and small commercial vehicles by up to 1 per cent from this month.
In August,
Hyundai Motor India had announced to hike prices by up to Rs 20,000 across its
models, while Maruti Suzuki India BSE -0.03 % had also hiked prices of its
various models by up to Rs 20,000.
Source : Tata
Motors to hike passenger vehicle prices