Tata Motors has announced a price hike of one per cent for its passenger vehicles, effective from January-2014. "While there is to be about one per cent hike in our passenger vehicles pricing, the commercial vehicles business continues to review the situation and will take a call subsequently," a Tata Motors spokesperson told PTI. The hike will be effective throughout their range, right from Nano to the Aria.
The Pune-based manufacturer seems to be going through a rough patch with the sales of its vehicles having dropped by 39 per cent in November 2013 as compared to November 2012’s sales. Tata has been mulling a price hike across its passenger vehicle range since July to mitigate the impact of the volatility in rupee and rising input costs.
Last week, Maruti Suzuki and Hyundai had also announced a hike in prices from January, joining the ranks of Mercedes, BMW, Audi and Honda. These steps are being taken to partially offset impact of adverse exchange rate and inflation that the manufacturers face coupled with the drop in the car sales in India.
