Following in the footsteps of Maruti Suzuki, Mahindra, and Toyota, Tata Motors has announced a 1.1 percent price increase across their whole model line-up, depending on the version.
Tata Motors has raised the cost of its automobiles in India, following the trend of rising prices. To counterbalance the surge in input prices, the price increase will be implemented throughout the whole model lineup of domestic automakers. Tata cars would now be 1.1 percent more expensive on average, depending on the type and model. Starting today, April 23, 2022, the price increase will affect car prices.
This is not the first time Tata Motors has raised its vehicle costs. They announced a similar price boost in January 2022, with an average increase of 0.9 percent depending on the version and model. The Indian automaker cited identical grounds for the price rise at the time of the hike.
“While the business is absorbing a major amount of the additional costs, the rapid rise in overall input costs has caused it to pass on some proportion through this small price raise,” Tata said in a statement in January 2022.
It should be noted that Tata Motors is not the first carmaker to raise its vehicle prices.
Mahindra, Maruti Suzuki, Toyota, BMW, and Mercedes-Benz announced price hikes across their model portfolios earlier this year for identical reasons.
Previously, Mahindra & Mahindra Ltd raised the prices of its cars by 2.5 percent across the board. The increase resulted in a price increase ranging from Rs 10,000 to Rs 63,000, depending on the model and version. On April 14, 2022, the hike went into effect.
Similarly, Maruti Suzuki announced a 1.3 percent price rise across the board, citing higher input costs. Maruti Suzuki and Toyota Kirloskar Motor had already boosted vehicle costs by 4%.
The two-wheeler market in India has suffered similar price spikes from the major manufacturers as the Indian vehicle market has.