Tata Motors#39; passenger vehicles to see #39;minimal#39; price hike as carmaker passes on some input costs

Stocks

“While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” the firm said.

Tata Motors | Representative image

Tata Motors | Representative image

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Tata Motors today announced a marginal price hike for its passenger vehicles with effective from tomorrow as the company passes on some input costs to customers.

An average increase of 0.9 percent will be implemented, depending on the variant and model, the company said in a statement.

The company has also reduced prices of some variants by up to Rs 10,000, in response to feedback from customers, it said.

Also Read: The mystery of the missing CEO at Tata Motors

“While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” the firm added.

The company also clarified that there will be no impact of the price hike on bookings made on or before January 18.

Recently on January 15, Maruti Suzuki India said it has increased prices of its models by up to 4.3 per cent to partially offset the impact of the rise in input costs.

The company enhanced prices across its models in the range of 0.1 percent to 4.3 percent owing to increase in various input costs.