Tata Motors Will Hike Prices Of Its Passenger Vehicles From May 1

Less than a month after the Tata Group company said it would increase the price of commercial vehicles by 5%, automaker Tata Motors announced yet another price increase starting on May 1, 2023. "Tata Motors, the largest automaker in India, today stated that starting on May 1, 2023, the price of its passenger vehicles will be slightly raised. Depending on the variant and model, the weighted average increase will be 0.6%, Tata Motors stated in a statement today.

Tata Motors has increased the cost of its vehicles for the third time in the past three months.

The company claimed that it has been passing along a portion of the cost increases brought on by regulatory changes and an increase in overall input costs because it has been absorbing a significant amount of those costs.

With effect from April 1, the largest commercial vehicle manufacturer in the nation increased car prices by up to 5%. According to the Tata Group company, the decision was made because the corporation is in compliance with stricter BS6 Phase II emission regulations.

Customers and fleet owners may anticipate a variety of cleaner, greener, and technologically superior solutions that give higher benefits and lower total cost of ownership as Tata Motors transitions its complete vehicle line to meet BS6 Phase II standards.

Due to the increase in input costs, the business raised prices by 1.2% in February 2023 across its portfolio of internal combustion engine (ICE) passenger vehicles.

The shares of Tata Motors concluded Thursday's trading session 0.72% higher at 468.85 on the Bombay Stock Exchange in anticipation of the news. Tata Motor's market capitalization is $1,55,953.72 at the current share price.

Tata Motors' stock price has increased 12.53 percent over the past month, 18.32 percent over the past six months, and 18.76 percent over the past full year. On August 17 of last year, the firm reached a 52-week high of $494.50, while on May 12 of that same year, it reached a 52-week low of $366.05.