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Tata Motors, India’s leading vehicle manufacturer, has announced a price hike of its passenger vehicles.
A weighted average price increase of 0.55 per cent will come into effect starting today, across the range, depending upon the variant and model.
“The company has taken extensive measures to absorb significant portion of the increased input costs. However, to offset the residual impact of the accumulated increase in input costs, it is passing on a minimized price hike,” Tata Motors said in a release.
Tata Motors is among the first carmakers to bring into effect a price hike in the current quarter. Others like Maruti Suzuki and Mahindra & Mahindra have signalled a hike. Hyundai have hiked prices on select models.
Commodity prices have cooled off in last few weeks with a fall in prices of steel also. However, according to vehicle makers the benefit of this will begin to be seen only after a lead period of a quarter.
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