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In order to offset the increased input costs, the home grown auto major Tata Motors is going to hike the prices of its passenger vehicles by up to Rs 25,000 from next month.
It has said in a statement that the company will be increasing the prices of its passenger vehicles starting from Rs 5,000 up to Rs 25,000, depending on the model. The increase is effective from January 1.
Mayank Pareek, Tata Motors President (passenger vehicle business) has said that “The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a result, we are forced to hike prices of our passenger vehicles.”
