Tuesday, August 03, 2021
By Manoj Kumawat
Tata Motors To Hike Prices From September 2021
Domestic carmaker Tata Motors is going to hike the prices of its passenger vehicles from September 2021. According to the sources of the company, this hike will be on an average of 0.8% depending upon the model. The company has not disclosed the reason for increasing the prices. Moving ahead, the company has said to hike the prices on an average basis but has not revealed the exact amount of the price hike and the name of the models on which it would be applicable.
In a recent statement by the company it said, that the demand for Nexon EV is more than its diesel variant. Along with this, the compact SUV is also available in the petrol variant. In the words of Mr PB Balaji, Chief Finance Officer, Tata Motors, “the Indian carmaker has got an “almost similar” number of bookings for Nexon EV in comparison to Nexon diesel. He opined that it is the combo of subsidies provided by the government and FAME-II benefits that have led to the vehicle’s demand. He revealed that Tata is hoping to witness a 5% share for Nexon EV in its total sales volume. As of now, 650 units of the Nexon EV have been sold since July 2021.”
Commenting on the company’s decision of hiking the prices of passenger vehicles, Mr Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors, said, “Continuing with its commitment towards customers, and acknowledging the faith and confidence they have reposed in Tata Motors’ New Forever range, the company will offer protection from the price increase to vehicles that will be retailed on or before 31st August 2021."