Tata Motors Price Increase : Tata Motors is going to increase the prices of all its range of cars from next week. The company has said that the increase in the price of steel and other expensive metals is affecting the manufacturing cost of the company. So she is going to increase the price of her cars. Tata Motors sells Tiago, Nexon, Harrier and Safari models of cars in the Indian market. The ex-show prices of these cars can go up by up to three per cent.
Cars getting expensive due to increase in steel and other expensive metals: Tata Motors
According to Shailesh Chandra, head of Tata Motors’ Passenger Vehicles Unit (PVBU), there has been a sharp increase in the price of steel and other expensive metals during the last one year. This increase in prices has affected the revenue of the company. Due to this it has declined by 8 to 8.5 percent. Yet only a small part of the increase in cost is being passed on to the customers. Only 2.5 per cent of the cost escalation is being passed on to the customers . From next week, the ex-showroom prices of Tata Motors cars may increase by up to 3 percent. Chandra has said that after bearing the burden of increased cost for a long time, we have decided to share a small part of it with the customers.
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Cars of Maruti Suzuki and Honda Motors also expensive
Chandra says that the company is currently in the process of deciding which model of the car can be increased by how much. He said that along with steel, the prices of expensive metals like rhodium and plaidium have also increased. Therefore, there is no other way but to increase the prices of cars.
Earlier this month, the country’s largest carmaker Maruti Suzuki increased the prices of its hatchback cars Swift and other model CNG variant cars by up to Rs 15,000. Similarly, Honda has also announced to increase the prices of all its models from August 1.