With the new financial year kicking-in, Tata Motors - a home-grown automaker officially announced that it will be increasing the prices for its passenger vehicles range by up to Rs 25,000. The car maker will be hiking the prices for the entire portfolio starting April 2019. The company has decided to increase the prices for the passenger vehicles due to rising input costs and external economic conditions. Taking these factors into consideration, Tata Motors has decided to pass it on to the customers. 2019 Geneva Motor Show: Tata Altroz, Altroz EV, Buzzard & H2X Concept Showcased At Annual Auto Show.
According to Mr. Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are confident of maintaining our growth trajectory in the coming months on the back of our robust portfolio consisting of segment-leading products like Tiago, Hexa, Tigor, Nexon and the Harrier.”
Additionally, Toyota Kirloskar Motor (TKM) will also be increasing the prices for some of its models from next month onwards. The car maker is also increasing the prices to offset the increase in input costs. 2019 Tata Hexa Lifestyle SUV With New Features Launched in India; Prices Start From Rs 12.99 Lakh.
TKM Deputy Managing Director N Raja said in a statement, "We have been absorbing additional costs through a bouquet of cost reduction measures including refinement in the production process. However, considering the trend of continuous increase, we are constrained to pass on a small portion to the customers."
It is important to note that several dealerships throughout the country are offering cash discounts on four Tata models - Tigor, Hexa, Nexon and Tiago. The interested customers can avail maximum discount of Rs 1.05 lakh approximately on Tata Hexa. Moreover, the customers interested in purchasing Tigor, Tiago and Nexon can get flat discount of up to Rs 74,000, Rs 60,000 and Rs 1.04 lakh respectively.