Tata Motors hikes vehicle prices

NEW DELHI: Tata Motors on Friday said it has increased prices of its passenger vehicle (PV) range by up to Rs 20,000 to offset rising input costs and semiconductors.

The company joins others like Maruti Suzuki and Mahindra & Mahindra, which have also hiked their vehicles' prices. "Rising input costs and material costs of steel, precious metals and semiconductors have compelled the company to pass on the part of the cost to customers," Tata Motors said in a regulatory filing. The company further said, "Tata Motors has marginally increased prices from 0 to Rs 26,000, depending on the variant.

Continuing its commitment towards customers, the company will also offer protection from the price increase to customers who have booked Tata passenger vehicles on or before January 21, it added.

Tata Motors currently sells PVs ranging from hatchback Tiago with starting price of Rs 4.7 lakh to SUV Harrier tagged at Rs 19.1 lakh (exshowroom Delhi).

Tata Motors said its PV business has been witnessing strong demand for its ' New Forever' range of Cars & SUV.

In the third quarter of financial year 2021, Tata Motors registered the highest ever sales in the last 33 quarters.