New Delhi: Tata Motors said on Tuesday it would raise prices for its passenger vehicles by an average of 0.9% from January 19 to partially offset the impact of rising input costs.
The automaker sells various models like the Tiago, Punch, and Harrier in the domestic market.
Starting Jan 19, 2022, an average increase of 0.9% will be implemented, depending on variant and model, the automaker said in a statement.
Meanwhile, the company has also taken a cut of up to Rs 10,000 on specific variants, in response to customer feedback, he added.
“While the company is absorbing a significant portion of the cost increase, the sharp rise in overall input costs has forced it to pass on some proportion of this minimal price increase,” Tata Motors noted.
He noted that in line with the company’s customer-first approach, it has once again decided to offer price protection to all of its customers who have placed their trust in Tata Motors’ range of passenger vehicles.
There would be no impact of the price increase on cars booked on or before January 18, 2022, Tata Motors said.
Last week, Maruti Suzuki India (MSI) raised the prices of its models by up to 4.3% with immediate effect. The company raised prices for its models by 0.1% to 4.3% due to the flushing of various input costs.
Automakers said they were forced to raise prices as the cost of essentials like steel, aluminum, copper, plastics and precious metals rose during the crisis last year.