Tata Motors India had announced price hike of all its passenger vehicles on 13th December, 2018 Thursday. The company said that it will increase the price of the passenger vehicles across models by Rs 40,000. However, the increase in the price will vary across all the models depending on the city and the variant. Currently, the Tata Motors’ passenger vehicles portfolio ranges from entry level small car Nano to the premium SUV Hexa. The entire range of the passenger vehicles offered from Tata Motors is priced between INR 2.36 lakh to INR 17.97 lakh. The prices are ex showroom – Delhi prices. The new price will be effective from January 1, 2019. The Tata Motors India also stated that the price hike is largely due to the rising of input costs and the increase in fuel prices.
According to Mr. Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors India, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio consisting of segment-leading products like Tiago, Hexa, Tigor and the Nexon. Early 2019 will also mark the entrance of our most awaited SUV – the Harrier. We are confident that the Harrier will receive all the love from our existing and prospective customers and will further help us in strengthening our brand salience.”
Tata Motors India said, usually, January is the month when almost all the manufactures announce a price hike. The other auto makers including the Toyota Kirloskar, BMW, Maruti Suzuki and Isuzu along with Tata Motors are said to increase the price of their vehicles from January, 2019. The manufacturers have reported the reason of the price hike to be the increase in commodity prices and foreign exchange rates. Tata Motors India will launch the most awaited premium SUV named as the Harrier in the early 2019. The Tata Harrier premium SUV is expected to be priced in the range of Rs 16 lakh to Rs 20 lakh. Besides that, Tata Motors India will launch the premium hatchback, codenamed as 45X towards the end of the next year.