Tata Motors mulls price hike

Tata Motors might resort to a price hike to mitigate the impact of the volatility in rupee and rising input costs. “We are not ruling out the possibility of an increase in prices. However, a decision on the quantum of the hike, by when and the models on which prices would be increased are yet to be taken,” Ankush Arora, Senior Vice-President, Passenger Vehicle Business Unit (Commercial), said. Auto sales fell 9 per cent in June, its eighth consecutive monthly decline, to 1,39,632 units as against 1,53,450 units a year ago on myriad reasons that included a falling rupee and rising fuel costs to high loan costs. In a bid to revive sales, Tata Motors had announced exchange schemes and cash back offers.