Business

Tata Motors to hike vehicle prices

MUMBAI, MAR 23 (AGENCIES) | Publish Date: 3/23/2019 12:27:56 PM IST

Tata Motors on Saturday said it will increase prices of its passenger vehicles range by up to Rs 25,000 from April on account of rising input costs and external economic conditions. The company joins the likes of Toyota and Jaguar Land Rover which have also stated that they would hike prices of select models from April.

“The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase,” Tata Motors President, Passenger Vehicle Business Unit Mayank Pareek said in a statement. This hike in price is due to rising input costs and external economic conditions, the company said in a statement. 

He further added that the company, however, is confident of maintaining its growth trajectory in the coming months on the back of our robust portfolio consisting of segment-leading products like TIAGO, HEXA, TIGOR, NEXON and the HARRIER. Tata Motors currently sells a range of passenger vehicles starting from the Nano to premium SUV Hexa priced between Rs 2.36 lakh and Rs 18.37 lakh.

 

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