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Tata Motors today said it will increase prices of its passenger vehicles by up to Rs 25,000 from January to offset the impact of rising input costs.
“The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase,” Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, said in a statement.
Introductory prices of the recently launched compact SUV Nexon will be ending by December 31 and this entire range will also witness a price hike from January 2018 by up to Rs 25,000, the company said.
Various automakers including Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have announced their decision to hike prices from January next year.
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