Tata Motors to hike utlity and passenger vehicle prices
18 March 2011
India's largest commercial vehicles manufacturer, Tata Motors, has hiked the prices of passenger and utility vehicles.
''Despite continuous cost control initiatives, the company is being forced to take these increases on account of a steep rise in input costs from April 1,'' Tata Motors said in statement today. However, the price of Tata Nano would not be hiked.
The statement said, ''In passenger cars, depending upon the model, Tata Indica prices will go up by Rs7,000 to Rs9,000, Indica Vista and Indigo CS by Rs8,000 to Rs11,000 and Indigo Manza by Rs10,000 to Rs15,000.''
Prices of utility are also set to go up by Rs13,000-Rs29,000 starting with Tata Sumo followed by Sumo Grande and Tata Safari.
Prices of the company's recent launches Venture and crossover vehicle Aria too would be up from 1 April. ''Price of Aria will go up by Rs30,000 to Rs36,000 and Venture by Rs9,000 to Rs12,000,'' the statement said.
The company, had, in January hiked passenger and utility vehicles prices by Rs3,000 –Rs14,500 and commercial vehicles in the range of Rs1,500-Rs30,000.
Other auto makers in the country to are being forced to raise prices. According to Pawan Goenka, president, automotive and farm equipment sector, Mahindra and Mahindra the rising input cost was a cause of concern for his company as well. He further said on Thursday that rising interest rates too were also a matter of concern for the industry.
According to experts, other original equipment manufacturers like Maruti Suzuki, Hyundai Motor Company, General Motors among others could also be expected to hike prices following rising input costs.