All Tata Motors cars set for price hike, says will not hit sales

The company, which had increased prices in April by 3%, however, said it expected sales momentum to continue despite the hike. “We have been working on cost cutting, but the problem of input cost pressure is piling up and we will be taking a price increase on our passenger vehicles by August,” Tata Motors president - passenger vehicles business unit - Mayank Pareek said.

All Tata Motors cars set for price hike, says will not hit sales
Tata Motors on Wednesday said it will hike prices of its passenger vehicles across models by up to 2.2% from August to offset increased input costs. Image source: company website
By PTI
Updated: Thu, Jul 19, 2018
10:03 am
New Delhi, PTI
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Tata Motors on Wednesday said it will hike prices of its passenger vehicles across models by up to 2.2% from August to offset increased input costs.

The company, which had increased prices in April by 3%, however, said it expected sales momentum to continue despite the hike.

“We have been working on cost cutting, but the problem of input cost pressure is piling up and we will be taking a price increase on our passenger vehicles by August,” Tata Motors president - passenger vehicles business unit - Mayank Pareek said.

He further said the company had taken a price hike in April but the input costs continue to rise, mostly on account of increased commodity prices.

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When asked by how much the company will increase the prices, he said, “Roughly it will be 2% to 2.2%.” This will be over and above the 3% increase in April, Pareek added. “The price hike will be across all models.” 

 

 

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