Tata Motors to increase pricing of its cars by up to Rs. 25,000 from 1st January 2018 as part of yearly price revision
Tata Motors joined the bandwagon of Skoda, Honda and Isuzu to announce price hike of its entire portfolio in India from January 1, 2018. This announcement comes as part of the brand’s yearly price revision strategy. Under the revised pricing, Tata cars will be dearer by up to Rs. 25,000 depending on various models and their variants.
The homegrown auto major attributes this price hike to the increasing input costs resulting in higher production cost. However, the brand doesn’t believe this price hike will affect the sales growth it is experiencing for last couple of months. Interestingly, Tata Motors has become the fourth biggest automaker in domestic market in terms of sales thanks to its range of new products.
Also read: Tata Motors Overtakes Honda; Becomes India’s Fourth Biggest Carmaker
Tata Motors has seen immense success with the cars like Tiago, Tigor, Nexon and Hexa. Thanks to its unique styling and upmarket features on offer, Nexon has become a very popular and desired model from the brand that sells around 3,000 units on an average every month. This car is still being sold at the introductory pricing and the car is will see a hike soon with its other siblings.
In between July and November this year, Tata Motors has sold 80,191 units in domestic market on its way to become the fourth biggest selling car brand in that period. Not only that, the automaker has become the third biggest selling carmaker in India in November 2017, as it retailed 17,157 units marking a 25% YoY growth.
Also read: Upcoming Tata Cars in India in 2017, 2018
The auto major is currently working on several new products that will be introduced in various segments. These include a premium hatchback codenamed as X451, a midsize sedan based on the X451, new Safari SUV that is codenamed as Q501 and a seven seater SUV codenamed as Q502. The Q502 will be the new flagship of the brand upon launch.
Apart from fresh styling, Tata Motors is also introducing advanced new technologies to its offerings. The brand is taking help from its British subsidiary Jaguar Land Rover in that process. Also, as we reported earlier, Tata Motors is aiming to launch premium showrooms and it also targets to cover 95% of the market by 2020 in order to achieve its goal of becoming third biggest carmaker of the country by 2019.