Tata Motors hikes price across range between Rs. 5,000 and Rs. 25,000 from January next year; blames it to production cost increase
Walking in line with Toyota and Renault, Tata Motors has announced price hike across its entire car line up. The Indian automaker says that its entire portfolio will get pricier by up to Rs. 25,000 from January next year and the lowest price increase is going to be Rs. 5,000.
Several automakers present in the domestic market have hinted about price hike due to the increased production cost. Japanese company Toyota has already announced increased price for its cars while the French auto major Renault has also announced upping prices across its entire portfolio. Tata Motors has also hiked the price due to same reason.
Interestingly, this is going to be the third price hike for the Tiago hatchback since its launch earlier this year. In October this year, the company increased price of its cars blaming the increased production cost. Speaking about the latest hike Mr. Mayank Pareek, president of passenger vehicle business, Tata Motors has said raw materials like steel, aluminium, copper and rubber have become pricier over a period of time. This has put a lot of pressure on the company and forced to charge more.
The company is preparing to launch a range of new cars soon. It will introduce its flagship car Hexa in January 2017, while among other cars preparing to launch in the domestic market include Viago compact sedan, Nexon compact SUV, Pelican and Tiago Aktiv. It is also working on the next generation Safari, which is internally codenamed as the Q501.
Also read: Upcoming Tata Cars in India in 2017
Currently, Tata Motors sells a range of passenger cars in Indian market, beginning from the entry level small hatchback Nano and going up to Aria. Its car range is priced between Rs. 2.18 lakh and Rs. 17.30 lakh (ex-showroom, New Delhi).