Tata Motors Hikes Prices: Car ride is going to be more expensive for you from the month of February. The country’s largest automobile company Tata Motors has decided to increase the price of its passenger vehicles. Tata Motors said that due to the increase in the cost of making the vehicle, the company is going to increase the price. The decision to increase the prices of Tata Motors vehicles is going to be implemented from February 1, 2023.
Price hike applicable from February 1
Tata Motors has said in its statement that it is going to increase the prices of passenger vehicles by about 1.2% from February 1, 2023. The prices of the vehicle will be increased according to the model and variant. Tata Motors has attributed the increase in the price of its vehicles to the increased cost. The company says that the cost has increased due to regulatory changes and increase in input cost. Whose burden is being borne by the company itself and has decided to put some burden on the customers.
In December 2022 itself, Tata Motors had indicated to increase the prices of passenger vehicles. Then Shailesh Chandra, MD, Passenger Vehicles and Electric Vehicles segment of Tata Motors had said that the increase in prices would help in reducing the effect of increase in commodity prices. He said that the change in regulatory rules will also affect the prices. He said that the prices of batteries have increased and its burden has not yet been passed on to the customers. Shailesh Chandra then said that the effect of battery prices and new regulation has been seen on electric vehicles. Also, there will be an increase in cost to comply with the new emission norms.
The new emission norms are going to come into effect from 1 April 2023. Under this, the sales of vehicles that do not meet the norms of BS 6 Stage 2 will be stopped. Under the new rules, more such engines are being installed which will be fuel efficient and which will help in reducing CO2 emissions. Tata Motors manufactures passenger vehicles under the names Tiago, Punch, Nexon, Harrier and Safari.
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