Tata Motors Hikes Price Of Bestselling Cars; Mahindra Reduces Price By Rs 72,000
Tata Motors has hiked the prices of its cars from the ‘New Forever’ range comprising Altroz Harrier, Tigor, Tiago, and Nexon.
On the other hand, Mahindra has decreased the price of XUV300, Mahindra’s best-selling compact SUV by Rs 72,000.
Read on to find out more…
How Expensive Have the Tata Motors’ Cars Become?
Tata Motors issued a statement dated August 12 saying, “Tata Motors has revised the prices of its ‘New Forever’ range of passenger vehicles. This revision in prices is considering evolving market conditions, changes in input costs, and other economic factors.”
This decision has been taken considering factors like evolving market conditions and change in input costs.
The extent of price hike will vary from model to model.
For instance, some variants of the Altroz have become expensive by Rs 6,000.
Whereas, the variants of Nexon have received a price hike by Rs 5,000.
Rs 9,000-Rs 13,000 is the estimated range of the price hike for Tiago variants while some variants of the Harrier will become expensive by Rs 5,000.
All in all, the SUV segment is expected to witness a price hike of around Rs 10,000 which may or may not drive away the customers thinking of buying the Tata SUVs. After all the company does have a good reputation for its vehicles.
Mahindra Also Revising Prices!
Mahindra will reduce the price of XUV300 depending on the powertrain and trim levels. The compact SUV is available in both petrol and diesel engine options.
- Petrol-powered XUV300 will be cheaper by Rs 17,000-Rs 72,000.
- XUV300 diesel-powered W4, W6, and W6 AT have become expensive by Rs 1,000-Rs 20,000.
- XUV300 W8, W8 AT, W8 (O), and W8 (O) AT diesel are cheaper by Rs 20,000-Rs 39,000.
The prices are being revised by the company to improve the car’s competitiveness in the compact SUV market and as a result, attract more buyers.
With the revised prices, the XUV300 is placed in the ‘affordable’ category within the compact SUV segment in India. With Kia Sonet launching in September 2020, the company’s revisions will likely benefit them.
It will be interesting to watch the price revisions by Tata Motors and Mahindra affecting the company’s growth with the ongoing COVID-19 pandemic and ‘Atmanirbhar Bharat’ initiative!