Tata Motors hikes price of most variants, cuts prices of some
24 Jan 2022
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Tata Motors has announced an average 0.9 per cent in the prices of most of its models while reducing the prices of select variants by up to Rs10,000, effective 19 January.
Tata Motors said the marginal price hike on its passenger vehicles will be implemented, depending on the variant and model. The company said the reduction of up to Rs10,000 on specific variants was taken in response to feedback from customers.
The company said while it is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike.
In line with the company’s customer-first approach, it has again decided to offer price protection to all its customers who have reposed the faith and confidence in the Tata Motors’ New Forever range. Assures no impact on Tata cars booked on or before 18 January 2022.
Tata Motors did not specify the models which will be affected the price hike.
The Indian automotive industry has been going through tough times over the past few years and the Covid pandemic worsened the situation. Further, the shortage of semiconductors hampered production leading to a longer waiting period than usual for many recently launched vehicles and the situation will likely improve only in a gradual manner.
The company ended CY2021 with all-time high sales of passenger vehicles. Tata managed to outsell Hyundai for the second position in the overall manufacturers’ sales standings in December 2021, besides posting its highest quarterly volumes in Q3 FY2022.
