Construction Industry News
Tata Motors said Tuesday it will raise the prices of its passenger cars by an average of 0.9 percent effective Jan. 19 to partially offset the impact of the increase in input costs.
The Mumbai-based automaker sells several models such as Tiago, Punch and Harrier in the domestic market.
From January 19, 2022, an average increase of 0.9 percent will be implemented, depending on variant and model, the automaker said in a statement.
At the same time, in response to customer feedback, the company has also taken a discount of up to Rs 10,000 on specific variants.
“While the company absorbs a significant portion of the increased costs, the sharp increase in total input costs has forced it to pass on a portion through this minimal price increase,” noted Tata Motors.
It noted that, in line with the company's customer-first approach, it has again decided to offer price protection to all of its customers who have placed their trust in Tata Motors' passenger cars.
The price increase will have no impact on cars booked on or before January 18, 2022, Tata Motors said.
Last week, Maruti Suzuki India (MSI) raised the prices of its models to 4.3 percent with immediate effect. The company has increased prices for its models from 0.1 percent to 4.3 percent as a result of flushing various input costs.
Automakers have stated that they have been forced to raise prices in the past year due to the rise in the cost of essential commodities such as steel, aluminum, copper, plastic and precious metals.
