Tata Motors announced a price hike of its entire passenger vehicle range in India by up to Rs 60,000. The increase in price will be effective from April 1, 2018.
Citing the rising input costs as one of the reasons for the latest price hike, the price increase will be applicable to the company's entire range starting from Tiago to the Hexa. While the variant-wise price hike of these models is yet to be known, Tata Hexa SUV, which is the top-of-the-line model of company's line-up is likely to get a price hike of Rs 60,000. Apart from the newly launched models of Tata, the long-standing models in its stable like the Safari, Sumo, Indica and Indigo prices will also be revised.
"The rising input costs, changing market conditions and various external economic factors, have compelled us to consider the price increase but we are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like Tiago, Tigor, Nexon, and Hexa," said Mayank Pareek, President, Passenger Vehicle Business, Tata Motors.
Other carmakers in India are also considering price hike on all their vehicles in the wake of higher input costs. Nissan India also announced a price increase across Nissan and Datsun vehicles from April 1, 2018. Prices of Nissan and of Datsun vehicles will increase by up to 2 percent.
"Due to rising input costs, we will be increasing the price of our Nissan and Datsun cars with effect from 1st April 2018. We are confident that our cars will continue to offer excellent value and choice to our customers," Jerome Saigot, Managing Director, Nissan Motor India Pvt Ltd.
Nissan currently offers the Micra, Sunny and the Terrano in India and Datsun offers the Datsun GO, GO+, and redi-GO to Indian customers.