Tata Motors is preparing to increase prices of its passenger automobiles in India, during the continuous festive season to offset rising input expense.
“We will trek costs of our automobiles. Presently we are working out the information,” President of Passenger Vehicles Business Unit Mayank Pareek informed.
When asked how soon the price boost will be effected, he stated: “It could be during the festive season.”
Discussing the factors for such a step, Pareek stated: “Input expenses have increased and a few of the market players have currently undertaken cost hikes. Moreover, we have actually also not remedied our rates for a long time.”
Tata Motors offers a series of passenger cars including the entry level little vehicle Nano, newly released hatchback Tiago and crossover vehicle Aria.
Another India-based rival Mahindra & Mahindra has hiked rates of some of its passenger and little commercial automobiles by as much as 1 per cent from this month.
In August, Hyundai Motor India had revealed that they would hike prices by as much as Rs 20,000 ($300) across its models. On the other hand, Maruti Suzuki India had also hiked prices of its numerous models by up to Rs 20,000 ($300).
