Tata Motors hikes passenger vehicle prices citing input costs

Mumbai, July 9: Tata Motors said on Saturday it has decided to increase its passenger vehicle prices by 0.55 per cent with immediate effect to partially offset the impact of rising input costs.”A weighted average increase in price of 0.55 per cent will come into effect starting Saturday across the range, depending upon the variant and model,” Tata Motors said in a statement.

The company said it has decided to hike the vehicle prices due to a sharp increase in input costs.

However, Tata Motors claimed that it has taken extensive measures to absorb a significant portion of the rise in input costs.

“The company has taken extensive measures to absorb a significant portion of the increased input costs. However, to offset the residual impact of the accumulated increase in input costs, it is passing on a minimized price hike,” Tata Motors said in the statement.