New Delhi, June 12: Tata Motors Passenger Vehicles (TMPV) has announced a price increase of up to 1.5% for its fuel (petrol, diesel, and CNG) and electric vehicles. This change will take effect from July 1.
In an exchange filing, the company attributed the price hike to rising input costs. TMPV stated that it would absorb a significant portion of these increased costs, while passing some of the burden onto customers through the recent price adjustment.
The price increase will vary across different models and variants. The company confirmed that this decision applies to its entire range of passenger vehicles, including both traditional fuel and electric models.
According to Tata Motors, the pricing adjustments have been made to ensure that, despite rising costs, their products remain value for money. Following this announcement, TMPV shares were trading at ₹385.60 on the BSE.
In recent months, other major automobile companies have also opted for price increases to maintain profit margins while continuing to invest in new products and technologies. Last month, Hyundai Motor India announced a price hike of up to ₹12,800 for its vehicles starting in June, citing increased input costs, high commodity prices, and rising operational expenses.
Similarly, Maruti Suzuki India declared a price rise of up to ₹30,000 across its portfolio, attributing this decision to the continuous increase in input costs. Additionally, Mahindra & Mahindra (M&M) adjusted the prices of its SUVs and commercial vehicles earlier this year.
–
ABS
Leave a Comment