Tata Motors Increases Car Prices by 0.9%

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Tata Motors Increases Car Prices by 0.9%
20 Jan 2022
6 min read

News Synopsis

Tata Motors has increased the prices of its passenger vehicle range by 0.9% depending on the car variant and model. Tata Motors is not the only automobile to raise its prices. Maruti Suzuki has also increased the prices of its cars on January 15 in the range of 0.1% to 4.3%. 

Tata Motors said in a statement that the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this price hike.

There are multiple factors that are affecting the automobile industry, including the increased prices of steel, shortage of semiconductors and a possible third wave of the pandemic. All these factors can impact the demand and production operations of the automobile industry.

Ever since the pandemic started, along with most of the industries, the automobile industry is also suffering from poor sales. Passenger car sales in the country have been falling for the last four months and two-wheeler sales are at a decade low.