Automaker Tata Motors is set to raise the prices of its passenger vehicles starting May 1st due to the increase in input costs. In a statement, the company announced a weighted average increase of 0.6%, varying based on the variant and model. This marks the second price hike by Tata Motors for its passenger vehicles this year, following a previous increase in February.
Tata Motors has attempted to absorb much of the increased costs that have arisen due to regulatory changes and overall input cost increases. However, the company has now reached a point where it must pass on some of the burden to its customers. As a result, customers can expect a modest price hike across the automaker’s range of passenger vehicles.
Tata Motors offers a wide variety of passenger vehicles, including cars like the Tiago, Tigor, and Altroz, as well as SUVs such as the Punch, Nexon, Harrier, and Safari. The prices for these vehicles currently range from Rs 5.54 lakh to Rs 25 lakh. In February, Tata Motors had already increased prices for its internal combustion engine (ICE) portfolio of passenger vehicles at an average of 1.2%.
