Tata Motors has revealed that it will hike the prices of its passenger vehicles from May 1, 2023. This announcement has come in the wake of the company's decision to absorb a substantial portion of the increased costs on account of regulatory changes and the surge in overall input costs. However, according to the company, they have been compelled to pass on some proportion of these costs to its customers through this marginal increase in prices.
The weighted average increase in the prices of Tata Motors' passenger vehicles will be around 0.6 per cent, depending on the variant and model. This slight increase is an attempt to maintain the balance between the rising costs and the company's commitment to providing affordable and high-quality vehicles to its customers.
Tata Motors is not the only car manufacturer that has decided to increase the prices of their vehicles. Other major carmakers in India, such as Maruti, Hyundai, and Honda, have also announced hikes in the prices of their cars, depending on the model, ranging from Rs 2,000 to Rs 15,000.
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