Tata Motors hikes car prices from January 19, 2022
New Delhi : Tata Motors has announced a marginal hike in the prices of its cars, effective from January 19, 2022. The quantum of price hike will average about 0.9 per cent.
Releasing a press statement, the company said that the prices have been hiked due to increase in steel prices; but under its policy, the cars booked on or before January 18, 2022 will not come under the new price bracket.
In an official statement, Tata Motors said, "While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike. In line with the company's customer-first approach, it has again decided to offer price protection to all its customers who have reposed the faith and confidence in the Tata Motors' New Forever range. Assures no impact on Tata cars booked on or before January 18, 2022."
The major reason behind the hike in price is rising input cost for the raw material used in the manufacturing.
This is the brand's second price revision in less than six months. The automaker had previously increased prices in August 2021 by up to 0.8 per cent. Earlier this month, Tata Motors increased the prices of its entire commercial vehicle range by up to 2.5 per cent from January 1, 2022. Last week, Maruti Suzuki also increased its car prices by 1.7 per cent across models from January 15, 2022.