New Delhi.Tata Motors on Monday has indicated that it’ll soon increase the worth of new-age cars. The homegrown car manufacturer has said that it’ll soon increase the worth of the ‘New Forever’ range of models. a proper announcement are going to be made soon, informed the automaker.
This means prices of the Tata cars and SUVs like Tiago, Tigor, Altroz, Nexon, Harrier, Safari will go up soon. Tata Motors has attributed the rationale for this price hike to the steep climb in overall input costs, thanks to the continual rise in essential raw materials like steel and precious metals.
It is yet to be revealed what would be the increased price and quantum of price hike for every model. The automaker has seen its new generation car and SUV range reviving its passenger vehicle business. during this scenario, a price hike might impact the sales figures.
Tata Motors isn’t the sole brand to announce a price hike recently. variety of auto manufacturers had previously hiked prices for his or her respective passenger vehicles and two-wheelers citing an equivalent reason. They also increased price recently citing higher input costs because the reason.
Among other automobile brands, Maruti Suzuki, Honda Cars India, Hero MotoCorp, Mercedes-Benz too have announced price hikes recently.
Maruti Suzuki has announced that it’ll hike car prices within the July-September quarter. Mahindra cars are likely to pricier as a hike is feasible . Mercedes-Benz increased its car prices last month. Among the two-wheeler majors, Hero MotoCorp has announced a price hike of up to ₹3,000 across its entire range just a couple of days ago.
The auto sales across the country are reviving slowly after a slump a couple of months back thanks to the devastating second wave of the Covid-19 pandemic. the worth hike along side the surging prices of petrol and diesel are feared to impact this recovery.