Tata Motors announces price hike for its passenger vehicles

Tata Motors has indicated that the weighted average increase will be 0.9%, depending on the variant and model, but has not provided model-specific pricing details.

Tata Motors has announced that starting 7th November, it will slightly increase the prices of its passenger vehicles. The firm had previously announced a 0.55% price hike on its PV line-up in July.

Tata Motors has indicated that the weighted average increase will be 0.9%, depending on the variant and model, but has not provided model-specific pricing details. According to the company, rising manufacturing input costs for vehicles are responsible for the price hike. The company noted in a statement that it had been absorbing a significant part of the increased costs up to this point, but now the company has been compelled by the rising input costs to deal with this by slightly increasing the prices of its vehicles. 

The firm's notable passenger vehicles include the Nexon, Harrier, Tiago, Punch, and Safari. The price increase will apply to all Tata vehicles.

Earlier this week, Tata Motors reported that its domestic and overseas sales for October 2022 were 78,335 units – up from 67,829 units in October 2021, representing a growth of 15.49%, owing primarily to the festive season. Domestic sales increased by 17% to 76,537 units in October 2022 from 65,151 units in the same month, last year. In October 2022, the total domestic sales comprised 31,320 commercial vehicles and 45,271 passenger vehicles.

PV sales, which include sales of electric vehicles, increased by 33% in the domestic market to 45,423 units in comparison to 34,155 units in the same month in 2021. Meanwhile, PV exports decreased by 10% to 206 units from 230 units in October 2021.

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