Tata Motors today announced that the company would be increasing prices of its entire passenger vehicles range by up to Rs 25,000, starting January 2018. This increase is “due to rising input costs”, the company said.
Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like Tiago, Hexa, Tigor and the recently launched Nexon.”
The introductory prices of the recently launched compact SUV, Nexon, will be ending by 31st December and its entire variants will also witness a price hike from January 2018 by upto Rs 25,000, the company added.
Skoda and Toyota too recently announced a price hike of up to 3%. More car makers are expected to join the price hike bandwagon soon.
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