Tata Motors, one of the leading vehicle manufacturers in the Indian market, has announced a price hike for its vehicles. As per the latest announcement, the automaker will increase the prices of its model range by up to 3 per cent depending on the model and variant from January 2025. This price hike will cover the internal combustion engine (ICE) vehicles and electric vehicles (EVs) sold by the brand. As per the automaker, the decision has been taken to partially offset the rising input costs and inflation.
The current model lineup of Tata Motors has models like Tiago and Altroz representing the brand among hatchbacks, Tigor in the compact sedan segment, Punch in the micro SUV segment, Tata Nexon in the compact SUV segment, Harrier and Safari in the premium SUV category. Additionally, the brand has the Tata Curvv, SUV coupe which was recently launched in the country.
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In the electric vehicle category, the automaker has Curvv.ev, Punch.ev, Nexon.ev, Tiago.ev, and Tigor.ev. Meanwhile, the brand seems to be planning on launching the Sierra EV which will revive the "Sierra" nameplate for the automaker.
It is to be noted that the price hike from Tata Motors comes right after the announcement from other major manufacturers in India like Hyundai, Maruti Suzuki, and Mahindra. Before this, Maruti Suzuki had announced a price hike of up to 4 per cent on its vehicles. Similarly, Hyundai announced a price hike of up to Rs 25,000 depending on the model. On the other hand, Mahindra announced a hike of up to 3 per cent on its SUVs. Many of these manufacturers have quoted rising input costs and inflation as a reason for the price hike.
In addition, luxury car manufacturers such as Audi, BMW, and Mercedes-Benz have also announced an increase in the prices of their vehicles. This brand's price increase has been linked to rising input and operational expenses.