Tata Motors today announced a hike of up to ₹25,000 over all passenger vehicles across its portfolio citing increased input costs and external economic conditions as the main reason which prompted it to hike the price.
“The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase,” Tata Motors President, Passenger Vehicle Business Unit Mayank Pareek said in a statement
The new prices will come into effect from next month. The automaker despite the hike in price is confident of its growth and numbers in the coming future and is assured this wont dent its sales growth.
Tata Motors kicked off 2019 with a bang by launching the long-awaited Tata Harrier SUV based on the OMEGA (Optimal Modular Efficient Global Advanced) platform derived from Land Rover’s D8 which is owned by Tata only.
The automobile company wants its presence in 90% of the addressable segments and will also be launching few new models soon with 45X concept based Altroz premium hatchback all set to debut in the second half of 2019, while a seven-seater model of Harrier SUV known as Buzzard will be launched in Indian market at the end of the year.
2018 in terms of performance was great for Tata Motors as its growth numbers were better than growth numbers of automobile industry and saw steady increase in sales numbers of Tiago and Nexon, and it introduced several new models along the way such as Tiago NRG, facelifted Tigor and performance-spec Tiago and Tigor JTPs.
Also, to combat its rival in SUV segment, Hyundai Creta, Tata is considering to launch the ALFA (Agile Light Flexible Advanced) architecture. Also, with launch of the Hornbill micro SUV and 2021-bound Blackbird, JLR owner will be completing its domestic SUV lineup. The ALFA platform will also give rise to an electric version of the Altroz which was showcased in its concept form at the Swiss motoring show and it will be launched in the coming years.