New Delhi: Tata Motors said on Friday that it will increase the price of its passenger vehicles from May 8. In case of different passenger vehicles, this increase will be in the range of 1.8 per cent on an average for their different models.
The company has said that this increase is being done to partially compensate for the increase in the cost of raw materials. The company has also said that it will provide protection against price hike to customers who have booked the vehicle on or before May 7. Tata Motors’ statement said that from May 8, the company will increase the prices of its passenger vehicles by an average of 1.8 percent. This increase will depend on the different models and variants of the vehicles.
Shailesh Chandra, President, Passenger Vehicle Business, Tata Motors said, “We have to meet a part of this growth by increasing the prices of our products due to the increase in the prices of raw materials such as steel and valuable metals.” He said that keeping in mind the interests of the customers who have already booked, the company will give them price protection.
Tata Motors sells vehicles like Safari, Harrier and Nixon. Chandra clarified that the price hike in various models will be applicable on bookings made from May 8. Tata Motors’ range of vehicles ranges from the entry level hatchbank car Tiago to the recently launched Safari SUV. Their ex-showroom price in Delhi ranges from Rs 4.85 lakh to Rs 21.4 lakh. (agency)