Tata Motors: We saw nearly yearly price rises for a variety of automobiles, including both passenger and personal cars. Many automakers also intend to increase the cost of a broad range of cars in different price levels in 2024. A number of automakers have already increased the pricing of their vehicles as of January 1, including Skoda, Citroen, Maruti Suzuki, Hyundai Motor India, Mahindra & Mahindra, Honda, and Audi. However, several automakers have not yet hiked their prices. Now the Tata Motors came up with the new revised or we can say the hiked prices of its passenger vehicles, including electric vehicles (EVs), by 0.7 percent. Tata Motors has now released an updated list of prices for its passenger vehicles, which includes an increase of 0.7 percent for electric vehicles (EVs). In order to partially offset the rise in input costs, this price increase will be implemented for all of its passenger vehicles starting on February 1, 2024.
What is the need behind the price of increase Tata Motors vehicles?
Maruti Suzuki had raised prices in November 2024, and it appears that Tata Motors is doing the same with an increase in the percentage adjustment. The main rationale given by the domestic automaker for this move was the requirement to partially offset rising input costs. The precise updated costs for each Tata car following the hike have not been made public despite this statement.
Know about the sales
In the passenger car market, 1,38,455 units were sold during the same time period, representing a 5% yearly gain in global bulk sales. The carmaker said earlier this month that its Q3FY24 total global bulk sales increased by 9% year over year to 3,38,177 units. In FY2024 Q3, the company’s inventory of commercial vehicles and other Tata vehicles had global wholesale sales of 98,679 units, representing a 1% year-over-year increase.
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