The Indian multinational automotive company, Tata Motors, indicated a hike in the prices of the entire line-up of passenger vehicles in India. The expected hike in the prices is most likely to be effective from January 2018. The hike will be around Rs. 25,000 higher than the prices of the existing range of vehicles in the country.
The hike is a result of the continuous rise in the input costs. Moreover, the shares of the company traded flat, i.e., it did not prove to be profitable on BSE Sensex intraday in November.
According to Mr. Mayank Pareek, the President of Tata Motors passenger vehicle business, the recent changes in the market condition, rising input costs and other external economic factors have forced the company to consider the hike in the prices of the passenger cars in the country. Further, he added that the company is determined to maintain its growth curve in the positive direction in the coming years. It is quite positive in this respect, as it has a strong backup of a robust line-up of products, including the likes of Tata Tiago, Tata Hexa, Tata Tigor and the recently launched Tata Nexon.
Recently, the manufacturer has also grabbed a tender of producing electric cars for the Government. Out of which, 250 units of the Tata Tiago Electric has alread been shown the green flag for production at the company’s Sanand plant in Gujarat.
The prices of the company’s latest compact SUV, Nexon will also witness a hike in the prices by around Rs. 25,000 from next year onwards. Recently, Tata Motors has rolled out 10,000 models of the Tata Nexon from the company’s Ranjangaon plant in Pune, out of which the company sold out 6,000 units in just two months after its launch.
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