Due to the impact of various macro-economic factors, Tata Motors today announced that the Company will be increasing prices of its passenger vehicles starting from Rs. 5,000 upto Rs. 25,000, depending on the model.
The increase is effective from January 1, 2017.
According to Mr. Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, “The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a resultant we are forced to hike prices of our passenger vehicles. We are seeing good demand for our cars and have witnessed month on month growth owing to the TIAGO. We are gearing up for our next launch of the HEXA in January 2017.”