Tata Motors hikes car prices by an average 0.8%; offers price protection till month-end
03 Aug 2021
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Tata Motors on Monday announced that it will increase prices of its various passenger vehicle models, by an average 0.8 per cent, from 3 August, but has offered price protection on all retail sales till 31 August 2021.
“Continuing with its commitment towards customers, and acknowledging the faith and confidence they have reposed in Tata Motors’ New Forever range, the company will offer protection from the price increase to vehicles that will be retailed on or before 31 August ’21, the company stated in a release o its official website.
The price protection is applicable only on vehicles retailed/ billed on or before 31st August, 2021, it added.
Tata Motors will consider retail billing date as the cut-off date for the old price. This means that if a person has already booked a Tata car but the billing will be after 31 August, it will trigger in the price hike.
The hike in passenger vehicle prices comes in the backdrop of the automaker’s efforts to offset the steep rise in procurement cost of essential materials. The Mumbai-based auto major sells a range of passenger vehicles, including popular models like Tiago, Nexon, Harrier and Safari, in the domestic market.
Other carmakers like Maruti Suzuki India and Hond have also hiked prices of their cars. Earlier this month, Maruti hiked the prices of its hatchback Swift and CNG variants of other models by up to Rs15,000 to counter increase in input costs. Honda also announced an increase in prices of its entire range of car models in India from August.
Toyota Kirloskar Motor, the Indian subsidiary of the Japanese automaker, also recently announced a 2 per cent increase in prices of the Toyota Innova Crysta, one of its most popular cars in India, from 1 August 2021.
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