New Delhi: Tata Motors on Tuesday said it would increase the price of passenger vehicles with an average of 0.9 percent with the effect of January 19, to partly offset the impact of increasing input costs.
Mumbai-based car makers sell various models such as Tiago, Punch and Harrier, in the domestic market.
Effective January 19 2022, an average increase of 0.9 percent will be implemented, depending on the variant and model, the car maker said in a statement.
At the same time, the company has also taken a reduction of up to 10,000 Rs on certain variants, in response to feedback from customers, he added.
“While the company absorbs most of the increasing costs, a steep increase in the overall input costs has forced to continue some proportions through this minimum price increase,” Tata Motors said.
It notes that in line with the customer-first approach the company, he has decided to offer price protection to all his customers who have faith and confidence in the range of Tata Motors passenger vehicles.
There will be no impact of price increases in cars booked on or before January 18, 2022, Tata Motors states.
Last week, Maruti Suzuki India (MSI) raised the price of the model up to 4.3 percent with direct effects.
The company has increased prices throughout the model from 0.1 percent to 4.3 percent due to rinse in various input costs.
Car companies have stated that they have been forced to climb prices because of the increase in essential commodity costs such as steel, aluminum, copper, plastic and precious metals over the past year.