Tata Motors has announced that it will be hiking the prices for all its passenger vehicles starting February 1. While an updated price list for Tata’s lineup of passenger vehicles will come later, the automaker announced that the weighted average increase will be 1.2% depending upon the variant and the model. This price hike will only be applicable to the automaker’s ICE catalogue and the prices of Tata EVs will remain unchanged.
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Tata Motors passenger vehicles to cost more from Feb 1
Tata Motors mentioned that regulatory changes within the country and a rise in overall input costs are the major reasons behind the price hike. The company had been absorbing a significant portion of the increased costs before deciding to hike the prices. Prices across Tata’s EV portfolio remain unchanged, partly due to the subsidies offered by the government.
Currently, Tata Motors is offering discounts of up to Rs 35,000 on Tata Safari, Harrier, Tigor, and Altroz across the month of January. The discounts come in the form of cash benefits and exchange bonuses and can be availed from Tata dealerships across the country. Recently, the automaker had also hiked prices for the Tata Tiago EV by 4%, as its initial introductory price offer had expired. Tata Tiago EV is currently the most affordable all-electric car in the Indian market.
Earlier this month, Tata Motors slashed the prices for the Nexon EV by up to Rs 85,000. This came as a response to the launch of the Mahindra XUV400 EV, which was undercutting the top-spec Nexon EV by Rs 85,000. The Nexon EV lineup now starts at Rs 14.49 lakh and goes all the way up to Rs 18.99 for the top-spec trim.
In other news, Tata Motors also showcased two new EVs at AutoExpo earlier this month. The Sierra EV will hit the market by 2025, soon to be followed by the Harrier EV. The automaker also announced CNG powertrains for Punch and Altroz as well as a ‘Racer’ variant for Altroz.