Tata Motors has announced that starting next month, it is going to increase the prices of its entire passenger vehicle portfolio.
Siting rising inputs costs as the reason, Tata Motors have announced that they are going to increase the prices of their entire passenger vehicle portfolio starting April next month.
The homegrown automaker is going to increase the price by up to INR 25,000. The price hike will vary from vehicle to vehicle and also depend upon the variant chosen.
With next month marking the beginning of a new financial year, expect other carmakers to follow suit and increase the prices across their respective product line-up.
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 confident of maintaining our growth trajectory in the coming months on the back of our robust portfolio consisting of segment-leading products like Tiago, Hexa, Tigor, Nexon and the Harrier.”
In other news, Tata Motors thrilled the 2019 Geneva Motor Show with the debut of four all-new product. Out of these, two were showcased in their respective production-ready avatars.
The list includes the Tata Buzzard seven-seater SUV, Tata Altroz premium hatchback, Tata Altroz EV concept and the Tata H2X micro-SUV concept. Out of these, the Altroz premium hatchback is confirmed to launch in India sometime during the second half of 2019.
The Altroz is based on an all-new platform. Named as the ALPHA architecture, it will soon be used on all models made by Tata Motors which measure under 4-meters in length. The Altroz is expected to be priced in-between the range of INR 5 lakh to INR 8 Lakh. Its competition will include the likes of Maruti Suzuki Baleno, Hyundai i20 and the Honda Jazz.
Tata’s latest offering, the Harrier premium mid-size SUV has been doing quite well. A month after it was launched, Harrier’s monthly sales stood as the second best in the segment. Its prices fall in-between the range of INR 12.69 lakh to INR 16.25 lakh (ex-showroom).