Tata Motors on Saturday said it has increased prices of its passenger vehicle range with immediate effect to partially offset the impact of rising input costs. A weighted average increase in price of 0.55 per cent will come into effect starting Saturday across the range, depending upon the variant and model, the homegrown auto major said in a statement.
The company has taken extensive measures to absorb a significant portion of the increased input costs, it said. “However, to offset the residual impact of the accumulated increase in input costs, it is passing on a minimised price hike,” it added.
The company sells a range of models including Punch, Nexon, Harrier and Safari in the domestic market. Tata Motors has already hiked prices of its commercial vehicles range by 1.5 – 2.5 per cent from this month.
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