Tata to hike prices across model range by Rs 5,000 to Rs 25,000, Nissan by up to Rs 30,000
Tata Motors has officially announced a price hike of all its models starting January 2017. The increase in price will range from Rs 5,000 to Rs 25,000 depending on the model. The Sanand-based company said that the change in the price is in lieu of the increase in price of raw materials. Along with Tata, Nissan too has announced a similar price hike. All Nissan models will cost up to Rs 30,000 more with effect from January 2017.
Earlier this month, Japanese car maker Toyota announced a similar price hike by up to 3 per cent across its model range. This hike in price of all car models has become an annual phenomenon and in the weeks to come, other car makers are also expected to follow the suit. Meanwhile, in a bid to increase year-end sales and encourage potential customers to buy cars during this demonitisation, car makers are offering hefty discounts.
The end of the calendar year traditionally experiences a dip in the sales numbers for most car makers. However, Tata and Nissan have both recorded a growth in its sales in November 2016. Tata registered sales of 12,736 units in November this year as opposed to 10,470 units in the corresponding month last year resulting in a growth of 22 per cent. Tata sold 6,008 units of the Tiago in November thanks to which it made it into the top 10 selling cars that month. Nissan on the other hand, sold 3,975 units in November this year as opposed to 2,617 units in November 2015.