Automotive main Tata Motors introduced on Saturday a weighted common worth improve of 1.1% throughout its passenger car (PV) vary, owing to surging enter prices.
The firm had taken a median worth hike of 0.9% on its PVs in January as effectively. Its PV vary contains hatchbacks like Tiago and Altroz, Tigor compact sedan, and SUVs like Nexon, Harrier, and Safari.
Tata Motors has introduced a worth improve throughout its PVs, to partially offset the rise in enter price, the corporate stated. “Effective today (April 23, 2022), the weighted average increase is 1.1%, depending on the variant and model,” it added.
The costs of aluminum, palladium, rhodium, rubber, and copper have elevated wherever between 15% and 50% over their common costs within the second half of 2021, additional pushing enter prices. The metal costs have practically doubled throughout the identical interval.
The industrial car vary of Tata Motors has additionally witnessed a few worth hikes this 12 months, with the costs climbing by as much as 2.5% every in January and April. Earlier this month, Maruti Suzuki India elevated the costs of its automobiles between 0.9% and 1.9%, whereas Mahindra & Mahindra and Toyota Kirloskar Motor hiked costs by as much as 2.5% and 4%, respectively.
Among the luxurious automakers, Mercedes-Benz India and Audi India have elevated the costs of their automobiles by as much as 3% in April. The costs of BMW India’s automobiles have jumped by 3.5%, whereas Volvo Car India’s automobiles have witnessed a worth hike of as much as 4% this month.
Source: www.financialexpress.com”