Tata Motors hikes passenger vehicle prices, expensive from Tiago to Harrier
Tata Motors has increased the price of its passenger vehicle by up to Rs 26,000. The company said on Friday that the company has taken this step because of the increase in production costs and the increase in semiconductor prices. Earlier, companies like Maruti Suzuki and Mahindra & Mahindra also increased the prices of their vehicles. Tata Motors said in a statement sent to the stock markets on Friday that due to the increase in the cost of production, increase in the prices of steel, precious metals and semiconductor, the company is putting some of its burden on the customers.
Those who book before 21 January benefit
Tata Motors said that it has increased the price of its various models from zero to 26,000 rupees, depending on the variant. The company said that customers who have booked a passenger vehicle on or before January 21, will not be affected by the increase in prices. Tata Motors currently sells hatchback Tiago to SUV Harrier in the passenger vehicle category.
The price in Tiago’s Delhi showroom is Rs 4.7 lakh. At the same time, the price of Harrier is Rs 19.1 lakh. The company said that its passenger vehicle business is seeing strong demand for New Forever range cars and SUVs. In the financial year 2020-21, their demand has increased by 39 percent over the previous financial year.
Record sale in the third quarter
The company further noted that Tata Motors had the highest sales ever in the last 33 quarter in the third quarter of FY 2021 and has continued to work on improving the supply chain and also to increase production to meet the increased demand. On Monday, Maruti Suzuki had said that the company is increasing prices by up to 34,000 thousand rupees for its selected models, to reduce the impact of rising production costs. Earlier this month, Mahindra & Mahindra announced an increase of around 1.9% in the prices of its personal and commercial vehicle range.
