Tata Motors has announced a price hike across its line-up, owing to various macro-economic factors. The home-grown automaker will be increasing the prices – effective January 01, 2017 – of its passenger vehicles, with the hike ranging from Rs 5,000 to Rs 25,000, depending on the model.
According to Mr Mayank Pareek, president, passenger vehicle business, Tata Motors, “The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a resultant we are forced to hike prices of our passenger vehicles. We are seeing good demand for our cars and have witnessed month on month growth owing to the TIAGO. We are gearing up for our next launch of the HEXA in January 2017."
Besides this, the company is all set to launch its next product – the Hexa crossover – in the Indian market. Tata will officially launch the Hexa on January 18, 2017, and its prices are likely to fall in the range of Rs 12-16 lakh. It will compete primarily with the XUV500 along with the Toyota Innova Crysta.