Tata Motors to increase prices up to 1.5 pc across PV portfolio from July 1
New Delhi, June 12
Tata Motors Passenger Vehicles on Friday announced an increase of up to 1.5 per cent in prices across its passenger vehicle portfolio, including internal combustion engine and electric vehicle models, effective July 1.
The company announced the price revision through an exchange filing on the exchanges.
According to the company, the increase is aimed at partially offsetting the impact of rising input costs and continued inflationary pressures.
TMPV said it continues to absorb a significant portion of the cost escalation internally, while passing on a part of the increase to customers through the latest price adjustment.
The company added that the extent of the price hike will vary across models and variants.
The move will apply across Tata Motors' passenger vehicle range spanning conventional fuel-powered vehicles as well as electric offerings, it added.
According to the automaker, the revision has been calibrated to ensure that the overall value proposition of its products remains intact despite cost pressures.
Following this, shares of the TMPV traded higher at Rs 385.60 on the BSE.
Other leading automobile companies have increasingly resorted to calibrated price hikes in recent months to protect margins while continuing investments in new products and technology.
Last month, Hyundai Motor India had announced a price increase of up to Rs 12,800 across its model range from June, citing rising input costs, elevated commodity prices and higher operational expenses.
Similarly, Maruti Suzuki India announced a price hike of up to Rs 30,000 across its portfolio from June, attributing the decision to sustained increases in input costs.
In addition, Mahindra and Mahindra (M&M) had revised prices for its SUV and commercial vehicle range earlier this year.
— IANS
Reader Comments
I appreciate Tata Motors absorbing most of the cost rise internally. They are one of the few manufacturers still offering great value for money. The Nexon EV is still a steal compared to competitors. Hats off to their engineering!🚗
At this rate, buying a car will soon become a luxury only for the rich!😔 We need the government to step in and control inflation. Otherwise these price hikes will become a monthly ritual.
Interesting to see all major manufacturers like Maruti, Hyundai, and Mahindra doing the same thing. Inflation is global, and India is not immune. At least Tata is upfront about their 1.5% hike while others are being more aggressive.
I was planning to buy a Punch this month!😅 Now I need to see if my dealer can give me a better deal before July. This is just making life harder for middle-class families trying to afford a safe car. But what to do, sab mehenga hai these days.
Good to see EV prices also going up but at 1.5% it's still manageable. Tata is doing a great job in making EVs accessible to the masses. If input costs are rising, it's fair to pass some to customers rather than compromising on safety or features.
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