Tata Motors hikes prices of its passenger vehicles by up to Rs 12,000
A top official said the company was forced to increase the cost of its cars as the prices of raw materials steel and zinc had risen.
Indian automaker Tata Motors has raised the prices of its passenger vehicles by up to Rs 12,000 to counterbalance growing input expenditure. Tata Motors President of the Passenger Vehicles Business Unit Mayank Pareek said the 1% hike in the prices of the cars will lead the vehicles to cost Rs 5,000 to Rs 12,000 more, according to PTI.
The company was forced to impose the hike as the prices of steel and zinc – both vital raw materials in the car manufacturing sector – had risen, Pareek explained. Passenger vehicles sold by Tata Motors are priced at a range of Rs 2.15 lakh to Rs 16.3 lakh.
