Tata Motors: Leading Indian automaker Tata Motors is preparing to raise the average price of its passenger vehicles, including electrified models, by 0.7% on February 1, 2024. Read on to know why is Tata Motors taking this step.
Tata Motors to hike prices for passenger vehicles
With effect from next month, Tata Motors announced on Sunday that it will raise the pricing of all of its passenger vehicle lineup, including EVs, by an average of 0.7%.
Tata Motors said in a statement that this hike, which takes effect on February 1, 2024, is being made in part to offset the increase in input costs.
What did the company say?
“This increase will be effective February 1, 2024 and is being taken to partially offset the rise in input costs,” the press statement stated.
The carmaker reported earlier this month that, at 3,38,177 units in Q3FY24, its total worldwide wholesales climbed by 9% year over year. In Q3 FY24, sales of the company’s commercial vehicles and Tata Daewoo range totalled 98,679 units worldwide, representing a 1% increase year over year.
Tata Motors‘ global wholesales in the passenger car segment reached 1,38,455 units in Q3FY24, up 5% year over year.
JLR’s global wholesales saw a notable year-over-year increase of 27%, reaching 101,043 units in Q3 FY24. The wholesale numbers for Jaguar and Land Rover for the quarter were 12,149 and 88,894 vehicles, respectively.
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