Tata Motors, India’s leading vehicle manufacturer, has announced that it will increase prices of its passenger vehicles (ICE and EVs), effective July 17, 2023, on an average of 0.6% across models and variants. The price increase is to offset the residual impact of the past input costs.
To provide some relief to customers, the Indian automotive giant announced that individuals who book their vehicles before July 16 and receive deliveries by July 31 will be shielded from the upcoming price hike.
The company’s total expenses for the quarter that ended March 31 climbed nearly 30% from a year earlier on an increase in the cost of materials consumed.
Vehicle prices across segments have increased in India after the government mandated automakers to fit them with a device to monitor emissions, sparking an increase in cost.
Tata Motors PV domestic sales in June 2023 stood at 47,235 vehicles, compared to 45,197units during June 2022.
