Rising input costs has pushed major automakers in the country like Hyundai, Mahindra and Maruti Suzuki to hike their vehicle prices. Following suit, Tata Motors is also likely to hike their vehicle prices soon to offset the rising input cost. Though the company has not revealed as to when and how much the price hike could be, it is believed that the revision might happen sometime during this festive season itself.
Speaking about it, Mayank Pareek, President (Passenger Vehicles Business Unit) Tata Motors, said that the increase in input costs have resulted in major automakers revising the prices across their lineup. Whereas, Tata Motors has not revised its prices for quite a while now. The company is working out on the details and will reveal the revised pricing soon. Automakers like Hyundai and Maruti Suzuki have hiked prices by about Rs 20,000, while Mahindra has hiked it by up to 1 per cent and it is likely that Tata Motors might also hike its prices across models by a similar margin.
Back in August, Tata Motors witnessed 16 per cent rise global sales at 86,288 units and 13 per cent increase for the period April to August on a year-on-year basis. The festive season has always seen a major rise in car sales in the country and with a minor hike in prices, it is not likely to affect potential customer decision to drive home a new car this festive season.
