Dec 11: Tata Group firm Tata Motors Ltd on Monday announced that the company would be increasing prices of its entire passenger vehicles range by up to Rs 25,000, starting January 2018. This increase in price is due to rising input costs, according to the company.
Commenting on the move, Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, said, “the changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like TIAGO, HEXA, TIGOR and the recently launched NEXON.”
The introductory prices of the recently launched lifestyle compact SUV, NEXON, which comes with Level NEX design, performance and technology features, will be ending by 31st December and this entire range will also witness a price hike from January 2018 by upto Rs 25,000, the company said.