Will hike prices by upto Rs 40,000 )depending on the model and city)
The hike is due to a rise in input costs and increase in fuel prices
Tata Motors has announced an increase in the prices of its entire product portfolio from 1 January, 2018. The company’s official release states that prices of its cars, including the Nexon, will be increased by upto Rs 40,000 (depending on the product and the city). Tata Motors has stated that the price hike is due to an increase in the cost of production and fuel. In the meantime, the company is gearing up to launch the much-awaited Harrier SUV in January.
Here’s what the company had to say in its official statement.
Tata Motors to increase prices of its Passenger Vehicles from January 2019
Mumbai, December 13, 2018:Tata Motors today announced that the Company would be increasing prices of its entire passenger vehicles range by up to INR 40,000 (depending on the model and city), starting 1st January 2019. This hike in price is due to rising input costs and increase in fuel prices.
According to Mr. Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio consisting of segment-leading products like TIAGO, HEXA, TIGOR and the NEXON. Early 2019 will also mark the entrance of our most awaited SUV – the HARRIER. We are confident that the HARRIER will receive all the love from our existing and prospective customers and will further help us in strengthening our brand salience.”