Tata Motors to hike prices of passenger vehicles by up to Rs 20,000

Zee Media Bureau

New Delhi: India's Tata Motors announced Monday that it was hiking the prices of all models of its passenger vehicles by up to Rs 20,000 from January due to various factors.

"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.

With this hike, Tata Motors joins the likes of Maruti Suzuki, Hyundai, Nissan, GM India and other car makers in India who have hiked the prices of their vehicles by up to 3 percent.

The hike in the prices, the companies said, have been done due to offset rising inputs costs.

The falling rupee has also been one of the reason for the hike in vehicle prices.

Tata Motors 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).

Experts say carmakers usually come up with such year-end announcements which help them clear inventories left after the heavy festival discounts on vehicles.

With Agency Inputs