New Delhi: Tata Motors on Monday said it will hike price of its entire passenger vehicle model range by up to Rs 20,000 from January.
“Due to the impact of various macro-economic factors, Tata Motors has decided to increase the prices of its passenger vehicles, with the maximum increase being upto Rs 20,000 on some models,” Tata Motors said in a statement.
The company sells various models from entry level Nano GenX to multi-purpose vehicle Aria – priced between Rs 1.99 lakh and Rs 15.51 lakh (all ex-showroom Delhi).
Various carmakers including Maruti Suzuki India, Hyundai Motor India, Toyota, General Motors India, Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.
Experts say carmakers usually come up with such year-end announcements which help them clear inventories left after the heavy festival discounts on vehicles.