Tata cars are set to become pricier as the Pune-based car manufacturer has announced its plan to hike prices of its passenger vehicles in India. To come in effect from 1st January 2017, the price hike will range between Rs 5,000 – Rs 25,000. The company says that this move has been made on account of the rising input costs and several macro-economic factors.
As a reminder, Tata Motors had announced a price hike across its passenger vehicles in October 2016 by up to Rs 12,000. The carmaker’s hottest launch of the year – Tiago hatchback – received major hikes in August and October. It will be the third time when the hatchback will see a price rise. Besides Tata Motors, Renault and Toyota have already announced the price hike across their entire product line up by up to 3% from January 2017.
Commenting on the same, Mr. Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, said, “The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a resultant we are forced to hike prices of our passenger vehicles.”
Meanwhile, the home-grown carmaker is gearing up to launch the much-awaited 7-seater Hexa SUV. Interestingly, this premium SUV has garnered 250 pre-orders within 48 hours from first day of its booking. In addition to the Hexa, Tata has two more important products in the pipeline – Nexon compact SUV and Kite 5 sub-4 metre sedan. The company will also introduce the AMT-equipped model of the Tiago hatchback.