Tata Motors Hikes Prices Of Passenger Vehicles For 3rd Time In 2023

The price hike is meant to offset the residual impact of past input costs, the company said in a statement.

New Delhi: Indian car maker Tata Motors (TAMO.NS) said on Monday it will increase prices of its passenger vehicles by an average 0.6% across models and variants from July 17.

The price hike is meant to offset the residual impact of past input costs, the company said in a statement.

Tata Motors had announced price hikes of 1.2% in January and 0.6% in April, citing increased input costs and regulatory changes, respectively.

The company’s total expenses for the quarter that ended March 31 climbed nearly 30% from a year earlier on an increase in the cost of materials consumed.

Vehicle prices across segments have increased in India after the government mandated automakers to fit them with a device to monitor emissions, sparking an increase in cost.

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