So here is one of the biggest news for both automobile and business category. Charming brand of motors and automobiles “Tata’ is planning to hike price range of their passenger cars during this festive season in order to take over the rise in input cost. The hike will be made on passenger vehicles for a better financial growth of the company.
Tata Motors President, Passenger Vehicle Business Unit Mayank Pareek told reporters that “We will make the hike in prices of our passenger vehicles and currently we are working on its details”. When Mayank Pareek was asked about the action in changes of prices he replied “It could be during the festive season”.
Mayank Pareek also stated the reason behind this hike which was completely focused on rising of input cost. He stated that ” Input cost have increased and many industry competitors have already hiked up their prices and moreover we haven’t corrected our prices for a long time”.
Tata Motors is a brand name in Passenger vehicles and this update will definitely make buyers think once. Tata Motors possess a good hold over small cars like Nano, hatchback like Tiago and crossover vehicle like Aria and their prices ranges between Rs. 2.15 lakh to Rs. 16.3 lakh.
This is not the first news over hike in passenger cars as Mahindra & Mahindra, a rival company of Tata Motors has already hiked up their prices by 1 per cent from the current month. In August Hyundai Motos also hiked up prices of their various cars by up to Rs. 20,000 and same Maruti Suzuki has also done it with the same amount of hike on some of its car models.