Tata Motors has announced a price hike in its cars that currently are powered by internal combustion engines.
The price hike announced by Tata Motors is as much as 1.2%, which will be effective from February 1.
Tata Motors To Hike Prices Of IC Engine Powered Automobiles From Feb 1
The company has been passing along some of the cost increases brought on by regulatory changes and an increase in overall input costs after absorbing a sizeable portion of those costs, according to a statement from the automaker.
Depending on the variant and model, the weighted average increase will be 1.2% as of February 1, 2023, it was added. In the domestic market, the company offers a variety of models including Nexon, Harrier, Safari, and Punch.
We had reported earlier that Tata will increase prices in January for both ICE and EV vehicles. High commodity prices have been cited by the company as one of the primary causes of the price increase.
Tata has also discussed the expense of adhering to the upcoming RDE standards. The cost impact on EVs like the Nexon EV, Tiago EV, and Tigor EV is primarily brought on by an increase in battery prices.
MSIL, Kia, Jeep, Audi, Mercedes To Increase Costs of Cars
India’s largest carmaker Maruti Suzuki India Limited (MSIL) has announced that it will hike the prices of its models from January 2023.
While MSIL makes the maximum effort to reduce costs and partially offset the increase, it has become imperative to pass on some of the impacts through a price increase.
All Kia vehicles reserved after December 31 will be subject to the price increase. In India, Kia is currently the fifth-largest automaker. Its portfolio is strong and includes well-liked options like Sonet, Seltos, and Carens. It also provides EV6 and Carnival.
Additionally, Jeep will also be hiking its prices by something between 2 and 4 percent.
Reportedly, Audi has primarily attributed the price increase to an increase in operating and input costs. The German automaker will raise prices across the board by as much as 1.7%.
Mercedes Benz will be increasing the prices of its cars by 5%.
