With the new financial year coming in, a few manufacturers have taken the decision to increase the prices of their products in India. The latest car manufacturer to announce a price hike is Tata Motors. The company has announced that it will be increasing the costs of its passenger cars in India by up to ₹ 60,000. Tata Motors haven’t given a rough indication of the price hike that each of its model line will get. It could be possible that premium models like the Hexa will be getting the maximum price hike. We believe that each model variant will be getting a price hike over its current price. Tata Motors attributes the rise in prices to an increase in input costs and that the new prices will be in effect from 1st April, 2018.
Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, said “The rising input costs, changing market conditions and various external economic factors, have compelled us to consider the price increase but we are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like Tiago, Hexa, Tigor and Nexon.”
The last launch from Tata was the Zest Premio, which was launched a fortnight ago, at a starting price of ₹ 7.53 lakh. The Zest Premio gets additional 13 features over the regular Zest and commemorates the strong sales of the Tata Zest. Tata says that it has sold over 85,000 units of the Zest since its launch. Also, the company saw a robust sales growth of 45 per cent for February 2018, selling 17,771 units. The Tata Tiago, Tigor and the Nexon have been some of the better selling products from Tata in the recent months.