The rising automotive giant, Tata Motors looks to bounce back strong in India with a number of models at its disposal and is also pouncing into the rising EV market. From commercial trucks and buses to SUVs, TATA is trying to revive its market share back in India and is looking strong day by day.
Recently, Tata Motors announced that it will implement a marginal price hike across its passenger vehicles. So, this means budget vehicles like TATA Tiago, Punch, Nexon and the EVs as well will all get a minor price bump effective from today, i.e. November 7, 2022.
They have said that the weighted average increase will be 0.9%, depending on the variant and model, so the effective price will vary across various models. Tata Motors again went on to say, “The company has been absorbing a significant portion of the increased costs but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike.”
The company has stated that there will be periodic price hikes like this and also has previously increased pricing in 2022 alone. Though they state increase in raw materials and other expenses is a factor, however, until they make quality vehicles that are still valued for money as well as safe, Indians will keep buying from Tata Motors, who has recently missed the 2nd spot in October sale by a fine margin to Hyundai.
Source: TATA Motors