Tata Motors joins industry trend, hikes price across passenger vehicle lineup

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Tata Motors has declared a price hike across its entire passenger vehicle lineup, with an average increase of 0.7% slated to take effect from February 1, 2024, reported HT Auto. The homegrown automobile giant cited the need to partially counterbalance escalating input costs as the primary reason behind this decision. Despite this announcement, the specific revised prices for individual Tata cars after the increase have not been disclosed.

Reportedly, this move follows a similar trend in the industry, with Maruti Suzuki having already declared a 0.45% price hike across its entire range of passenger vehicles due to mounting production costs. Maruti Suzuki had previously initiated a price hike in November 2024, and Tata Motors seems to be following suit with a higher percentage adjustment. Interestingly, the Tata Motors has decided to apply this price hike universally, affecting not only internal combustion engine-powered cars but also electric vehicles in its portfolio.

This decision comes on the heels of the recent launch of the Tata Punch EV, the brand's latest electric SUV and the fourth electric car in its lineup, joining the Nexon EV, Tigor EV, and Tiago EV. Several other automakers in India have also recently announced price hikes, attributing them to factors such as rising production costs, inflation, and increased raw material expenses. While this series of price hikes may exert additional pressure on Indian car buyers in 2024, automakers are optimistic that the sales momentum will persist despite the increased costs.