Rising input costs and the fact that other industry players having hiked prices already, has resulted in Tata Motors announcing a price hike of up to INR 12,000 of all their cars ahead of the Diwali 2016 season. This also includes Tata Tiago, their best-selling car today.
This was revealed by Mayank Pareek, Head – Tata Motors President – Passenger Vehicle Business Unit in an interview with PTI. He has stated that the new prices come into effect immediately.
The company has not increased prices of their lineup in a long time, even as rivals Hyundai Motors and Maruti Suzuki announced price hikes earlier this year while Mahindra increased prices of passenger and small commercial vehicles from October 2016.
Tata Motors passenger vehicle range includes the Nano to the crossover Aria, all presented in a price range from INR 2.15 lakhs to INR 16.30 lakhs. The company has extensive plans of increasing this portfolio by adding the likes of Nexon, Kite5, new generation Nano and Hexa over the coming months.
Recently, the company noted increased domestic sales and exports during September 2016 to the tune of 48,648 units, up from 45,215 units during September 2015. Domestic sales increased 5% to 42,961 units while exports surged 29% to 5,687 units in the past month.