Tata Motor has confirmed the price protection for customers who have booked the vehicles on or before January 21, 2021
Tata Motors has announced the increase in prices of its models across the domestic range with immediate effect in the passenger vehicle segment. The homegrown auto major cites a number of reasons for the decision to hike the prices including the rising input costs and material costs of steel, precious metals
and semiconductors, etc.
The company says the rising inputs costs have “compelled” it to pass on a part of the cost to the customers. Tata sells a range of passenger cars across different segments and the Tiago compact hatchback sits at the bottom of the price point as the brand’s most affordable model and moving up, the Tigor compact sedan, Nexon compact SUV, Altroz premium hatchback and Harrier mid-size SUV exist.
Depending on the variants, Tata has increased the prices up to Rs. 26,000 and it comes on the back of the whole automotive industry increasing prices of its models after having a tough outing in the Calendar Year 2020. Tata has also mentioned in its press release that it will also offer protection from the price increase to customers who have booked vehicles on or before January 21.
Since the reopening of the production duties last year, Tata played a significant role in the revival and it posted consistent three digit Year-on-Year sales growths. Compared to the Financial Year 2020, Tata’s passenger vehicle sales grew by 39 per cent in FY21. In the third quarter of FY2021, it recorded the highest individual sales in the last 33 quarters.
Moreover, to meet the growing demand, Tata has been ramping up its production output. The facelifted Tiago, Tigor and Nexon did help in garnering good volumes last CY while the MY2020 updates for the Harrier aided in the five-seater maintaining its momentum in the last few months. The Nexon EV emerged as the country’s best selling electric vehicle last year as well.
Tata will be launch the seven-seater Safari soon in the domestic market and it has also introduced the iTurbo version of the Altroz. However, the biggest all-new launch of the year will be the HBX concept based Hornbill micro SUV.