Tata Motors' price hike on Safari, Nexon, and other vehicles comes into effect today

Tata Motors' price hike on Safari, Nexon, and other vehicles comes into effect today

Nov 07, 2022

Automobile major Tata Motors had on Saturday announced that it would be increasing the prices of its passenger vehicles starting today, November 7.

On an average, prices of the company's vehicles will go up by 0.9%, depending on the variant and model selected. The move comes with the manufacturer needing to absorb a major chunk of costs due to rising input prices.

The company sells a range of passenger vehicles like Tiago, Punch, Nexon, Harrier and Safari across the country.

Tata is not the only automaker raising prices, with Czech manufacturer Skoda, Japan's Toyota and South Korean major Kia also having recently increased prices for their passenger vehicles in India. More are expected to follow suit as input costs continue to rise.

Models including the Skoda Kushaq, Kia Carens, and Toyota Fortuner have all seen a hike in their prices.

Sales of Tata's Safari SUV have dipped 5.11% compared to October last year, with the Indian manufacturer selling 78,335 cars in October 2022 across home and international markets.

Tata Motors' December domestic sales of 76,537 units was a 17% increase over the same period in 2021 (65,151 units)

Source - economictimes.indiatimes.com

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