Homegrown automobile manufacturer Tata Motors on Monday announced to increase the prices of its passenger vehicles, both internal combustion engine (ICE) and electric vehicles (EVs), from July 17, 2023. The company said that the price hike will be on an average of 0.6 percent across models and variants.
The company cited the residual impact of the past input costs as the reason for the price revision. Tata Motors also said that it will offer price protection to customers who have booked their vehicles up to July 16, 2023, and will take deliveries up to July 31, 2023.
Tata Motors offers a wide range of passenger vehicles in the country, which includes the likes of hatchbacks, sedans, SUVs and EVs. Some of its popular models are Tiago, Tigor, Altroz, Nexon, Harrier and Safari. The company also has EV models like Nexon EV and Tigor EV, which have gained a significant share of the country’s EV market.
Tata Motors’ passenger vehicle sales in the domestic and international market for Q1 FY24 stood at 2,26,245 units, compared to 2,31,248 units during Q1 FY23.
