Tata Punch, Nexon, Harrier all set to get expensive once again from May 1
Tata Motors has announced that the automaker will be increasing the prices of its passenger car range with effect from May 1, 2023. Tata car prices will increase by an average of 0.6 per cent, depending on the variant and model, the company said. This is the automaker’s second price hike this year, having increased prices by up to 1.2 per cent in February.
Tata Motors said the company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall inputs costs. However, it was now compelled to pass on some proportion of the costs to customers. The price increment is a result of the transition to the BS6 Phase 2 emission regulations that have been applicable from April 1, 2023.
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While the cars now offer lower emissions and are also E20 fuel-ready, new car prices have seen a significant jump in recent years. The price hike is expected for all models in the company’s range right from the entry-level Tiago and Tigor, to the Punch, Nexon, Harrier, and Safari SUVs. The new car prices will be available at the start of next month.
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Not just Tata Motors but other automakers also increased prices across their respective range earlier this year. From Maruti and Hyundai to Honda, carmakers hiked prices anywhere between ₹2,000 to ₹15,000, depending on the model. Even Tata hiked prices for its commercial vehicle range by up to five per cent earlier this month.