Auto Components News

Tata Motors increases prices of cars, SUVs by up to ₹26,000

Tata Motors has announced that it will hike prices of its passenger vehicle range, effective 22 January. Rising input costs and material costs of steel, precious metals and semiconductors have compelled the company to pass on a part of the cost to customers.

Tata Motors has marginally increased prices from 0 to R 26,000, depending on the variant. The company will offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 21st January.

The company claims that its PV business has been witnessing strong demand for its cars & SUVs and grew by 39% in FY21 over FY20. In Q3FY21, Tata Motors also registered the highest ever sales in last 33 quarters. Tata Motors registered domestic sales of 150,958 units in Q3 FY21.

Earlier, the company announced that for December 2020, wholesale was higher by 84%, compared to December 19. Retail sales were 18% higher than wholesale for the month of December and the company claims that the pipeline inventory remains thin. Tata Motors also claims to be trying to debottleneck the supply chain and ramp up their output to meet the increased demand while addressing the availability of electronic components.

Tata Motors recently took the wraps off its upcoming SUV. The company will be re-introducing the Safari brand with the new launch. The Safari builds on the design of the Harrier but will come with a longer footprint and an additional third row of seats. The car will be launched officially later this month.

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