Tata Motors Announces Price Hike On Cars: Nexon, Harrier To Become Expensive From May

One of the largest auto manufacturers in India, Tata Motors, has announced a price hike for its passenger vehicles. The new hike will be applicable for all cars starting on May 1, 2023. Defining the quantum of increase, the company said that the model and the car's variant will determine the price changes. However, the cars will have an average increase of 0.6 percent. The company cited increased input costs and regulatory changes as the reason for the price hike of the vehicles in India. 

The company said in a statement, "Tata Motors has been absorbing a significant portion of the increased costs on account of regulatory changes & rise in overall input costs and is hence compelled to pass on some proportion through this hike."

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With this in effect, vehicles of the Indian automaker like Tata Nexon, Harrier, Safari, Tiago, Tigor, Punch, and Altroz will gain numbers on the price tag. The company will announce the new prices next month for these vehicles. Depending on the current announcement, the increase in the price of the vehicles will range from Rs 3,000 to Rs 15,000. The upper limit of the hike might be applicable for the most expensive variant of Tata Safari, worth around Rs 25 lakh (ex-showroom).

Earlier, in February, the company had announced a price hike for vehicles. The increased prices came into effect on April 1, 2023. At the time, the company said that the prices were increased due to the implementation of stricter emission norms. Furthermore, the Indian auto manufacturer also upgraded its vehicles to comply with BS6 Phase II emission norms.

The effects of the rising input costs and implementation of stricter emissions norms have been consistent throughout the Indian auto industry. Multiple manufacturers like Maruti Suzuki, Hyundai, Honda, and others hiked the prices of their vehicles.