Tata Cars Set for Price Increase from January 2024, Automaker Hints
Pune, 28th November 2023: In a recent update from Tata Motors, the leading auto manufacturer has hinted at an upcoming price hike across its entire spectrum of passenger and electric vehicles starting from January 2024. A spokesperson from Tata Motors shared that while the specifics of the price increase are yet to be disclosed, an official announcement is expected in the coming weeks.
The decision to raise prices hasn’t been accompanied by a detailed explanation from Tata Motors. However, this move aligns with the trend seen in the automobile industry in India, where manufacturers frequently adjust prices to counter the impact of rising inflation, escalating raw material expenses, and overall production costs. Throughout 2023, several automakers have revised their car prices multiple times, citing these factors as contributors.
Notably, Tata Motors isn’t alone in considering a price adjustment. Maruti Suzuki, India’s largest carmaker, is also preparing to increase prices across its entire passenger vehicle lineup concurrently with Tata Motors in January 2024. Likewise, Mahindra & Mahindra, another prominent domestic automaker, is contemplating a similar step to elevate the pricing of its passenger vehicles from the same month.
Moreover, in the luxury car segment, Audi, the renowned German automaker, is intending to raise the prices of its cars by two percent. This decision by Audi is primarily attributed to the surge in input costs and operational expenditures.
