Tata Motors to Raise Prices of Passenger Vehicles by 1.5% Starting July
Tata Motors Announces Price Increase
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New Delhi, June 12: Tata Motors Passenger Vehicles (TMPV) revealed on Friday that it will implement a price hike of up to 1.5% across its entire range of passenger vehicles, which includes both internal combustion engine (ICE) and electric vehicle (EV) models, effective from July 1.
This price adjustment was communicated through a filing with the stock exchanges.
The company stated that this increase is intended to help mitigate the effects of rising input costs and ongoing inflationary trends.
TMPV emphasized that it continues to absorb a significant portion of the cost increases internally, while passing some of the burden onto customers through this latest price adjustment.
The specific amount of the price increase will differ among various models and variants.
This adjustment will affect Tata Motors’ entire passenger vehicle lineup, which includes both traditional fuel-powered vehicles and electric models.
The automaker noted that the price revision has been carefully considered to maintain the overall value proposition of its products despite the cost pressures.
As a result of this announcement, shares of TMPV rose to Rs 385.60 on the BSE.
In recent months, other major automobile manufacturers have also implemented measured price increases to safeguard their profit margins while continuing to invest in new products and technologies.
Last month, Hyundai Motor India declared a price increase of up to Rs 12,800 across its model lineup starting in June, citing rising input costs, high commodity prices, and increased operational expenses.
Similarly, Maruti Suzuki India announced a price hike of up to Rs 30,000 across its portfolio from June, attributing this decision to ongoing increases in input costs.
Additionally, Mahindra and Mahindra (M&M) had adjusted prices for its SUV and commercial vehicle range earlier this year.