Indian auto giant Tata Motors has announced the price hike across its passenger cars range effective from April 1st, 2018. The company has announced that it will be increasing the costs of its passenger cars in India by up to Rs 60,000. However, the exact amount to be increased on each model has not been confirmed by the automaker
Talking about the price hike, Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, said "The rising input costs, changing market conditions and various external economic factors, have compelled us to consider the price increase but 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 Nexon." Adding further he said, "The rising input costs, changing market conditions and various external economic factors, have compelled us to consider the price increase."
Tata Motors currently sells a range of passenger vehicles beginning with Gen X Nano at a starting price of Rs 2.28 lakh (ex-showroom Delhi) to premium SUV Hexa with price going up to Rs 17.42 lakh (ex-showroom Delhi). The most recent launch by Tata Motors is the Zest Premio that was launched at a starting price of Rs 7.53 lakh (ex-showroom Delhi). While the car gets additional 13 features over the regular Zest, it also boosts up the sales for the company as well as for the standard Tata Zest. According to the automaker it has sold over 85,000 units of the Zest since its launch.
Tata Motors registered a sales growth of 45 per cent in February 2018, by selling 17,771 units. The cars responsible for the growth include the Tata Tiago, Tigor and the Nexon. Other than Tata Motors, German luxury carmaker Audi announced price hike in the range of Rs 1-9 lakh, effective April 1 to pass on the impact of increased customs duty in the Budget while making a similar move, Volvo also announced a price hike in the country effective from April 1 in the country. Stay tuned to V3cars.com for further updates.