Tata motors has anoounced price rise in their entire passenger vehicles in india, starting from 1st January 2019. They will get a hike of 40,000 depending on the city and models. The reason of hike is said to be because of rising input costs and increse in fuel prices.
Mr. Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors, explained: “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio consisting of segment-leading products like TIAGO, HEXA, TIGOR and the NEXON. Early 2019 will also mark the entrance of our most awaited SUV – the HARRIER. We are confident that the HARRIER will receive all the love from our existing and prospective customers and will further help us in strengthening our brand salience.”
Not only Tata Motors but other companies like Maruti Suzuki, Honda and Hyundai will also increase their prices on their respective models from January 2019.BMW has announced a price of 4%, Renault will also increase the prices of the cars by 1.5 per cent. While Ford cars will get expensive by 1-3%. And Toyota will increase the prices of its cars by 4 per cent.