Tata Motors, which sells a range of passenger vehicles like Tiago, Punch, Nexon, Harrier and Safari across India, on Saturday announced a price hike. Tata Motors’ cars under the passenger vehicle segment are set to get costlier from Monday, November 7.
“The company has been absorbing a significant portion of the increased costs but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” the company said.
The weighted average increase will be 0.9 per cent, depending on the variant and model. The company hasn’t rolled out the model-specific price list.
This isn’t the first price hike on the Tata cars for this year, as previously the company had made its models expensive in January, April, and July 2022.
Tata Motors sales
The Safari-maker recently announced that its domestic sales dropped by 5.11% on a MoM basis in October 2022. Tata Motors Limited sales in the domestic and international market for October 2022 stood at 78,335 vehicles, compared to 67,829 units during October 2021. The car maker reported a 17 per cent year-on-year rise in its total domestic sales which were at 76,537 in October 2022 as against 65,151 in October 2021.
In the passenger vehicle segment, the auto maker logged a 33 per cent jump as it sold 45,217 vehicles last month as against 33,925 in October last year.
A planned shutdown of the Pune plant for preventive maintenance and debottlenecking actions led to reduced production in October 2022, Tata Motors said on November 1.
