Tata will increase prices of models like Punch, Tiago, Nexon, Harrier and others from January 2022 citing rising input costs
Tata Motors has announced a price hike for its domestic models across the range and it will be effective from the first month of 2022. While the exact details are not available yet, Tata has cited rising input costs as the key reason for the price increase. In 2021, Tata introduced the Safari three-row SUV and the Punch micro SUV, and both have been well received amongst customers.
In addition, the homegrown manufacturer also brought back the Tiago NRG with the BSVI compliant 1.2-litre petrol engine and the Dark Edition variants of Nexon, Altroz and Nexon EV. Tata’s current portfolio comprises the Tiago, Tigor, Altroz, Nexon, Nexon EV, Harrier, Safari and Tigor EV. The Tigor EV based on the Ziptron tech as the Nexon EV also debuted a few months ago.
Tata has pointed the fingers at the rising commodity, raw material and other input costs for the impending price hike. It comes on the back of Tata deciding to increase the prices of its commercial vehicle range as well at an average of 2.5 per cent over the existing prices and it will be effective from next month onwards.
From January 2022, car producers like Maruti Suzuki, Audi, Mercedes-Benz and Citroen would increase prices as well due to the rising input costs, supply chain issues and multiple other factors. Recently, Tata hiked the prices of some of the variants of the Safari by up to Rs. 7,000 as the automatic trims were subjected to the hike.
Tata Motors managed to stay put in the third position in the overall manufacturers’ sales standings throughout the year with impressive YoY growth rates. In November 2021, Tata recorded a total of 29,780 unit sales as against 21,640 units during the same period last year with a massive YoY growth of 37.6 per cent.
The brand garnered a market share of 12.1 per cent against 7.6 per cent with a gain of close to 4.5 per cent. Tata could bring in the Altroz EV next year but no official details are available yet and we can expect some CNG launches too.