Mumbai: Leading automobile brand in the country, Tata motors, has announced a price hike for its vehicles. The automaker will increase the prices of its model range by up to 3 per cent depending on the model and variant from January 2025. This price hike will cover the internal combustion engine (ICE) vehicles and electric vehicles (EVs) sold by the brand.
The decision to hike the prices has been taken to partially offset the rising input costs and inflation. The current model lineup of Tata Motors has models like Tiago and Altroz representing the brand among hatchbacks, Tigor in the compact sedan segment, Punch in the micro SUV segment, Tata Nexon in the compact SUV segment, Harrier and Safari in the premium SUV category. Additionally, the brand has the Tata Curvv, SUV coupe which was recently launched in the country.
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Earlier other major manufacturers in India like Hyundai, Maruti Suzuki, Mahindra and Maruti Suzuki had announced a price hike of up to 4 per cent on its vehicles. Similarly, Hyundai announced a price hike of up to Rs 25,000 depending on the model. On the other hand, Mahindra announced a hike of up to 3 per cent on its SUVs. In addition, luxury car manufacturers such as Audi, BMW, and Mercedes-Benz have also announced an increase in the prices of their vehicles.
Many of these manufacturers have quoted rising input costs and inflation as a reason for the price hike.
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