Tata Motors said it will increase the prices of its passenger vehicles from May 1 to partially offset increase in input costs on Friday. Tata Motors in a statement said, “The weighted average increase will be 0.6 per cent, depending on the variant and model,”
After the company had increased in February, this will be the second price hike by it for its PVs.
“Tata Motors has been absorbing a significant portion of the increased costs on account of regulatory changes and rise in overall input costs and is hence compelled to pass on some proportion through this hike,” it said.
The company sells a range of passenger vehicles, including cars such as Tiago, Tigor and Altroz; and SUVs such as Punch, Nexon, Harrier and Safari, with prices ranging from Rs 5.54 lakh and Rs 25 lakh.
Earlier in February this year, the company had increased prices across its internal combustion engine (ICE) portfolio of passenger vehicles at an average of 1.2 per cent.
(With PTI inputs)
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