Tata Motors today announced that the Company would be increasing prices of its entire passenger vehicles range by up to INR 40,000 (depending on the model and city), starting 1st January 2019. This hike in price is due to rising input costs and increase in fuel prices.
According to Mr. Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors,
The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio consisting of segment-leading products like TIAGO, HEXA, TIGOR and the NEXON. Early 2019 will also mark the entrance of our most awaited SUV – the HARRIER. We are confident that the HARRIER will receive all the love from our existing and prospective customers and will further help us in strengthening our brand salience.
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