Tata Motors emerges as the latest car manufacturer to announce its plans to hike car prices in the country. Effective from 8 May, 2021, Tata Motors will increase the prices of its passenger vehicles on an average of 1.8 per cent, depending on the model and variant. The company attributes the hike in prices to the increase in input cost.
Interestingly, Tata Motors offers price protection to customers who have booked a passenger vehicle on or before 7 May 2021. To protect and serve the interest of its customers, dealers, and suppliers, the company reportedly has set in motion a comprehensive ‘Business Agility Plan’.
Speaking on the occasion, Shailesh Chandra, President – Passenger Vehicles Business, said, “Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products. Keeping in mind the interest of customers who have booked cars already, we are offering price protection for all bookings done till date (on or before 7 May, 2021). This price increase will be effective for bookings made thereafter (effective 8 May, 2021). Our ‘New Forever’ product range continues to witness strong acceptance in the market and we are thankful to our customers for their continued trust in the brand.”
The variant-wise revised prices for Tata cars will be known tomorrow.