Business News | Tata Motors to Hike Car, SUV Prices by Up to Rs 25,000 from September 1
Get latest articles and stories on Business at LatestLY. Tata Motors Passenger Vehicles Limited will increase prices of its cars and SUVs, including both internal combustion engine (ICE) and electric vehicles (EVs), by up to Rs 25,000 from September 1, citing rising input costs and sustained inflationary pressures.
Mumbai (Maharashtra) [India], August 21 (ANI): Tata Motors Passenger Vehicles Limited will increase prices of its cars and SUVs, including both internal combustion engine (ICE) and electric vehicles (EVs), by up to Rs 25,000 from September 1, citing rising input costs and sustained inflationary pressures.
The company said the price increase will vary across models and variants, as it seeks to partially offset higher costs while continuing to absorb a significant portion of the increase internally.
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"This price revision is being undertaken to partially offset the impact of rising input costs and sustained inflationary pressures," Tata Motors Passenger Vehicles said in an exchange filing on Friday.
The company said the increase will cover its entire portfolio of cars and SUVs, with the exact quantum varying across models and variants.
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"While TMPV continues to absorb a significant portion of these increases, a part of the impact is being passed on to customers through this adjustment," it said.
The company added that the pricing changes across models and variants would be made while maintaining the overall value proposition of its offerings.
The move comes a day after Hyundai Motors announced that it would raise vehicle prices by up to 1 per cent across its portfolio from September, citing rising input and commodity costs, higher operational expenses and continuing geopolitical and macroeconomic uncertainties.
Tata Motors' latest move covers both conventional and electric vehicles, making the price revision applicable across its passenger vehicle portfolio.
The move comes as the auto sector continues to face commodity-cost pressures. Kotak Institutional Equities recently said in a report that demand momentum is expected to remain steady, but persistent commodity costs and weakness in global auto markets could weigh on margins.
The brokerage said auto original equipment manufacturers (OEMs) recorded strong volume growth in the first quarter of FY27, but higher commodity costs limited EBITDA growth. While crude, aluminium and precious-metal prices have eased from their first-quarter peaks, offering some potential relief to margins, domestic steel prices remained firm. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)