Tata Motors has increased the prices of its passenger vehicles by up to Rs 12,000 across models in order to offset rising input costs. The revision in price comes in to effect immediately.
"We have hiked prices of our passenger vehicles by one per cent ranging between Rs 5,000 and Rs 12,000 due to rising input costs," Mayank Pareek, president, Passenger Vehicles Business Unit, Tata Motors, told PTI. Pareek added that the prices of raw materials such as steel and zinc have gone up prompting the company increase the price of its vehicles.
Click to check revised prices of Tata Tiago
Tata Motors' passenger vehicle range starts with the Nano and goes up to the crossover vehicle Aria, priced in the range of Rs 2.15 lakh to Rs 16.3 lakh, ex-showroom Delhi. The Aria will soon be replaced by the Hexa and its prices will be announced adding rising input costs.
Tata Motors' price hike comes after Mahindra & Mahindra hiked prices of its passenger vehicles by up to 1 percent from 1 October. In the beginning of September, Honda Car India hiked prices of its entire range of vehicles from Rs 6,300 to Rs 14,250 depending on the model.
Earlier in August, India's largest carmaker Maruti Suzuki and second largest Hyundai had hiked the prices of their vehicles. Maruti Suzuki hiked the prices in the range of Rs 1,500 to Rs 20,000 that include popular models such as Baleno and the Vitara Brezza. Hyundai had increased the prices by up to Rs 20,000 for its entire range. Renault India increased the price of its most selling model, the Kwid in August. The Kwid prices were increased from Rs 4,766 to Rs 9,646, ex-showroom Delhi.