Amid rising commodity costs and inflationary changes, Tata Motors on Saturday announced that the company will be increasing prices of their vehicles.
The weighted average price increase among the vehicle products will be 0.9 per cent and will come into effect from Monday.
“The company has been absorbing a significant portion of the increased costs but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” mentioned a statement from Tata Motors.
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles, and Tata Passenger Electric Mobility had in an interaction with businessline stated that the price hikes would be periodic.
“The frequent price increase due to commodity prices has gone down and there will now be a more periodic and natural increase that ideally, the Original Equipment Manufacturers (OEMs) take as they add features. There will be pressure after March when you are transitioning to a new emission mode,” he said.