Tata Motors Limited, a USD 45 billion organisation, and a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles, on Saturday announced that the Company would be increasing prices of its passenger vehicles range by up to INR 25,000, starting April, 2019.
This hike in price is due to rising of input costs and external economic conditions, the company said in a release.
According to Tata Motors President (Passenger Vehicle Business Unit) Mayank Pareek, the changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase.
We are confident of maintaining our growth trajectory in the coming months on the back of our robust portfolio consisting of segment-leading products like TIAGO, HEXA, TIGOR, NEXON and the HARRIER, he added.
Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 109 subsidiary and associate companies, including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.
Tata Motors is India’s market leader in commercial vehicles and amongst the top four in the passenger vehicles market.