The Indian automobile giant Tata Motors is looking to increase its passenger vehicles by 0.55% with immediate effect. The company yesterday announced this officially and they say this hike is because of increasing input costs which makes sense with the increasing prices of products.
Tata Motors in a public statement, said, “A weighted average increase in the price of 0.55% will come into effect starting today, across the range, depending upon the variant and model.”
They have even said that Tata Motors has taken significant steps to absorb the significant portion of the increased input costs, at various levels of manufacturing. However, because of the increased price of raw materials, the company has been imperative to pass on a residual proportion via a minimized price hike.
Interestingly, the upward costs not only remain at 0.55% only because previously Tata Motors has also publicly increased prices in the range of 1.5-2.5% which has already come into effect from 1st July 2022 across the range. So, if you are planning to buy a new vehicle by TATA you will see prices shooting up significantly from July onwards.
