“TATA”, a multinational conglomerate decided to increase their price of upcoming vehicles in between Rs. 5,000 to Rs. 25,000 from the month of January 2017in order to offset increased offset costs .
“The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a result, we are forced to hike prices of our passenger vehicles,” Tata Motors President (passenger vehicle business) Mayank Pareek said.
The company is witnessing good demand for its cars and has witnessed month-on-month growth on the back of the recently-launched Tiago, he added.
Tata Motors sells a range of passenger vehicles, including the entry-level small car Nano, the newly launched hatchback Tiago and crossover vehicle Aria, at a price range of Rs 2.18 lakh to Rs 17.29 lakh (ex-showroom Delhi).
On Sunday, Renault India announced plans to increase prices of its vehicles by up to 3 per cent from next month to offset increased input costs.
Earlier, Toyota Kirloskar Motor (TKM) had announced hike in prices of its vehicles by up to 3 per cent from next month to offset increased input cost and consistent upward trend in foreign exchange rates.
TATA to hike price of their passenger vehicles
