New Delhi: On Saturday, India 2nd largest car manufacturer company Tata Motors announced that it has increased the prices of its passenger vehicle range with immediate effect to partially offset the impact of rising input costs. On Friday, Tata Motors reported a 32 per cent year-on-year growth in the group’s global passenger vehicle wholesales to 2,12,914 units.
The domestic auto major said in a statement, The weighted average increase of 0.55 per cent will be applicable across all ranges from Saturday, depending on the variant and model. The statement further said that The company has taken comprehensive measures to absorb a significant part of the increased input cost.
In the domestic market, the company sells a rang of models including Punch, Nexon, Harrier and safari. The company statement also said, “However, to offset the residual impact of the accumulated increase in input costs, it is passing on a minimised price hike,” it added.
India 2nd largest car manufacturer company Tata Motors Already this month, has increased the prices of its commercial vehicles by 1.5 – 2.5 percent.