New Delhi, March 18 – Tata Motors announced on Tuesday its plans to increase the prices of its passenger vehicles, including electric vehicles, starting next month. This will be the company’s second price hike this year.
As per agency report, Tata Motors stated that the price adjustment is being implemented to partially offset the impact of rising raw material costs. The extent of the price increase will vary depending on the model and variant. However, the company has not disclosed specific details regarding the proposed hike.
Earlier in January, Tata Motors had raised passenger vehicle prices by up to three percent. The company had also announced on Monday that it would increase the prices of its commercial vehicles by up to two percent from April.
Meanwhile, Maruti Suzuki India has also revealed plans to increase the prices of all its models by up to four percent next month, reflecting the broader industry trend of price revisions due to rising input costs.
