Indian automaker Tata Motors has announced a price hike for its passenger vehicles starting July 9. A weighted average increase in price of 0.55% will come into effect starting today, across the range, depending upon the variant and model.
Tata Motors price hike: What it entails
Tata Motors has taken extensive measures to absorb a significant portion of the increased input costs. However, to offset the residual impact of the accumulated increase in input costs, it is passing on a minimized price hike. This price hike comes after a marginal price hike of 0.9% earlier this year. There has also been an increase of 1.5-2.5% from July 1 in the commercial vehicles range, depending on the model and variant.
Earlier, the Indian automaker had reported the global wholesales of all passenger vehicles in Q1FY23 were at 2,12,914 nos., higher by 32% as compared to Q1FY22, with a domestic total of 45,197 units sold last month alone. Out of these 45,197 units, 3,507 were electric vehicles.
Tata Punch, Nexon, Harrier, and Safari contributed to 68% of the first quarter FY23 sales. The electric vehicles currently offered by Tata Motors include Tata Tigor EV and Tata Nexon EV. Tata Nexon was the most sold SUV last month, with Tata Punch also garnering commendable numbers. You can read our review of the Tata Punch here.
With the base model currently priced at Rs 7.54 lakh, the bestselling SUV Tata Nexon could now be offered at Rs 7.58 lakh. Tata Punch could now be priced at Rs 5.86 lakh and the Safari at Rs 15.33 lakh.
When it comes to electric vehicles, Tata Tigor EV will be offered at Rs 12.55 lakh and the Tata Nexon EV at Rs 14.87 lakh.
Earlier this year Tata Motors had unveiled the Avinya concept, an expression of the company’s vision of a Pure Electric Vehicle, based on its Gen 3 architecture. It comes packed with new-age technology, software and Artificial Intelligence that work in the background to deliver wellness and tranquillity during transit. With this, Tata Passenger Electric Mobility is all set to unleash a new breed of EVs that will redefine the automobile space.