Safari to Altroz, Tata Motors to hike prices of cars from May 81 min read . Updated: 07 May 2021, 11:03 AM IST
Tata Motors has assured that the price of cars booked till today will not be affected by this hike.
Tata Motors has decided to increase prices of its passenger vehicles across its fleet starting on May 8. The Indian vehicle manufacturer said that price of Tata cars will go up by an average of 1.8% from tomorrow.
Tata Motors' announcement comes amid several other carmakers going for price hikes on select models in recent times.
Tata Motors attributes rise in prices of commodities to be one of the key reasons behind its decision.
The hikes will be applicable on all Tata Motors passenger vehicles and the amount of hike will depend on the variants and models. However, the carmaker has assured its customers who will book their vehicles by the end of today. It said, bookings received on or before May 7 will not be affected by this hike.
Shailesh Chandra, President of Passenger Vehicles Business at Tata Motors, said, "Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products. Keeping in mind the interest of customers who have booked cars already, we are offering price protection for all bookings done till date (on or before 7th May 2021). This price increase will be effective for bookings made thereafter (effective 8 May 2021). Our ‘New Forever’ product range continues to witness strong acceptance in the market and we are thankful to our customers for their continued trust in the brand."
Tata Motors currently offers a range of cars spanning across segments in India. The carmaker recently launched Tata Safari SUV in February, and is also slated to drive in some of its electric cars soon. Besides Safari, Tata Motor's passenger vehicle fleet includes hatchbacks like Altroz, Tiago, Tigor sedan, SUVs like Harrier and Nexon, which also has an electric avatar.
Tata Motors remains one of the top vehicle manufacturers in India in terms of sales. In April, the carmaker clocked a total of 39,530 units in the domestic market and retained its position as the third biggest OEM in the country after Maruti and Hyundai. Nexon, Tiago and Altroz are the three best-sellers from the carmaker in India, as far as figures last month suggests.