Amidst Pandemic, Tata Motors Increases Price Of Vehicles By Up to 8%: Was This Needed?
The automaker hasn’t made a sales in any vehicle in April last year due to the nationwide lockdown. As compared to total domestic sales of 66,609 vehicles in March this year, sales declined by 41 percent to 39,530 units.
It also said that as compared to the passenger vehicle sales in the domestic market stood at 25,095 units in April, in March this year it is down by 15 %.
Price Hike As Prices Of Commodities Rise
The prices of passenger vehicles, depending on the variant and model, shall increase averaging 1.8%. Price protection for customers who have booked vehicles on or before 7th May shall also be extended to the automaker.
The automaker justified the hike due to hike in prices of commodities like steel and precious metals.
“Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products. Keeping in mind the interest of customers who have booked cars already, we are offering price protection for all bookings done till date (on or before 7th May 2021)” said Shailesh Chandra, President – Passenger Vehicles Business.
Price Protection For Those Who Booked Earlier
”This price increase will be effective for bookings made thereafter (effective 8 May 2021). Our ‘New Forever’ product range continues to witness strong acceptance in the market and we are thankful to our customers for their continued trust in the brand,” Chandra said.
The company had announced price increase across its commercial vehicle range in January. However, amid the big decision, what is important to be seen is that how the customers react to it. Lets see…