After Maruti Suzuki, Tata Motors To Hike Car Prices From January
Automaker Tata Motors Ltd. has decided to increase prices of its passenger vehicles from January, primarily to offset costs incurred for upgrading engines to the latest emission standards.
The company currently sells cars ranging from the hatchback Tiago to SUV Harrier, priced between Rs 4.39 lakh and Rs 16.85 lakh (ex-showroom Delhi).
On Tuesday, Maruti Suzuki India Ltd. announced car price hikes, which come into effect January, to offset rising input costs. Other automakers, like Toyota Kirloskar Motor Pvt. Ltd. and Mahindra and Mahindra Ltd., are likely to follow suit.
Hyundai Motor India Pvt. Ltd. and Honda Cars India said they will not increase vehicle prices in January, but their products will see price hike when BS-VI compliant models are introduced in the market.
"With BS-VI products coming in, prices will increase from January," Mayank Pareek, president (passenger vehicles) at Tata Motors, told the Press Trust of India in an interview.
He declined to quantify the increase in prices but said the car price hikes next month would be on a higher side as compared to earlier price revisions.
"We are working on the calculations...normally, if any change happens, the prices go up by Rs 10,000-15,000. Now there are two things happening, one is BS-VI and there is also pressure from rise in commodity prices," Pareek said.
The Bharat Stage-VI emission norms will come into effect on April 1, 2020.