Tata Motors has announced a hike in the prices of all its passenger vehicles. An average increase of 0.55 percent in the prices of cars across segments came into effect on Sunday. This means any car, depending on the variant and the model will come with a marginally increased price. However, since the hike is less than one percent, it is likely not to have a big impact on the customers’ pockets. Also Read - Tata Nexon to Hyundai Creta: Here are the top-selling SUVs in July 2022
“The company has taken extensive measures to absorb 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 minimised price hike,” Tata Motors said. Also Read - Maruti Suzuki Grand Vitara to Toyota Urban Cruiser Hyryder: Top 5 most fuel-efficient SUVs in India 2022
The price hike comes close on the heels of Tata Motors’ earnings report, which highlighted a colossal 48 percent year-on-year jump in global sales during the first quarter of 2022-23. The company, which includes the luxury brand Jaguar Land Rover, said it sold over 3.16 lakh units at the end of the June quarter this year. In just last month, Tata Motors sold over 45,000 passenger vehicles in India, 3,507 of which were electric vehicles (EV) while the rest were ICE models. Also Read - Tata Nexon XM+ (S) new variant launched at Rs 9.75 lakh: Check details
Tata Motors’ popular cars, such as Hexa, Nexon, Tiago, Punch, Altroz, Harrier, and Safari will now cost you more. The individual prices of each vehicle, however, are not available. However, the quantum of increase in the prices is likely to be out soon, so that customers have clarity. Tata Motors’ EVs, Tata Tigor EV and Tata Nexon EV Max are also likely to see their prices hiked. Notably, Tata Motors recently increased the prices of its commercial vehicle range by 1.5 to 2.5 percent earlier this month.