Tata Motors, the home-grown automaker, today announced its plan to increase prices across its passenger vehicle line-up. As of now, the company has not revealed the timeline or the quantum of the price hike on cars, however, Tata did mention that the increase in prices is due to the steep climb in overall input costs. Tata has said that the formal announcement about the quantum of price increase is likely to be made within the forthcoming days or weeks. We expect the new prices to come into effect from August 1, 2021.
In its official communication, Tata Motors said, “Tata Motors, India’s leading vehicle manufacturer intends to shortly mark an appropriate increase in prices of its ‘New Forever’ range of Cars and SUVs. The steep climb in overall input costs, especially due to continuing rise in costs of essential raw material including steel and precious metals, necessitates a transfer of at least some part of this increase to end customers.”
Interestingly enough, it was just in May 2021 that the company increased car prices in India by up to 1.8 percent. And now the carmaker has made a price hike announcement in less than 2 months. Back then Tata Motors had said that the price hike was part of Tata’s ‘Business Agility Plan’ to protect and serve the interests of its customers, dealers and suppliers. The rise in the cost of raw materials was also a contributor to the hike. This will be the brand’s third price increase this year. Before May 2021, Tata had previously increased prices in January by up to ₹ 26,000.
Right now, Tata Motors is gearing up to launch its 2021 Dark Edition range in India, which, in addition to the Harrier, will also include the Altroz, Nexon and Nexon EV. The new Dark Edition models are expected to be launched in India as early as later this week.