Industry

After Maruti, Tata Motors to hike passenger vehicle prices from January

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The move is primarily to offset the impact of upgrading its portfolio to conform to BSVI emission norms

Tata Motors on Wednesday said it would increase prices of its passenger vehicles from January, primarily in order to offset the impact of upgrading its portfolio to conform to BSVI emission norms.

The company currently sells products ranging from hatchback Tiago to SUV Harrier, priced between ₹4.39 lakh and ₹16.85 lakh (ex-showroom Delhi).

“With BSVI products coming in, prices will increase from January,” Tata Motors president (Passenger Vehicles Business Unit) Mayank Pareek told PTI in an interview here.

He declined to quantify the increase in prices but said the hike next month would be on a higher side as compared to earlier price revisions taken by the company.

“We are working on the calculations...normally if any change happens the prices go up by ₹10,000-15,000. Now there are two things happening, one is BSVI and there is also pressure from rise in commodity prices,” Mr. Pareek said.

BSVI emission norms in India are slated to kick in from April 1, 2020.

On Tuesday, Maruti Suzuki India announced to increase prices of its models from January to offset rising input costs.

Other automakers like Toyota, Mahindra & Mahindra and Mercedes-Benz are also contemplating a similar move.

Hyundai Motor India and Honda Cars India, however, said they would not increase vehicle prices in January, but their products would see price hike when BSVI compliant models were introduced in the market.

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Printable version | Dec 10, 2019 3:49:29 PM | https://www.thehindu.com/business/Industry/after-maruti-tata-motors-to-hike-passenger-vehicle-prices-from-january/article30158168.ece

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