One of India's top automakers, Tata Motors, has announced a price increase for its ICE (internal combustion engine) lineup of passenger cars. The most recent price adjustment will take effect on February 1, 2023. Depending on the version and model, the business estimates that the weighted average price increase will be 1.2 percent.
With a huge selection of cars and SUVs on the market, Tata Motors is one of India's top makers of passenger cars. Popular models from the company's range include the Tata Nexon, Tata Altroz, Tata Tiago, and Tata Harrier.
After Tata changed the tariffs in January, this will be the second price increase of 2023. Due to the same factors, the corporation had previously announced the price increase. The Tata Tiago is at the top of the current Tata lineup. The cost of the car's base model begins at Rs 5.44 lakh.
"The company has been passing on some percentage through this hike," Tata Motors stated in a statement. Also mentioning that, "the company has been absorbing a major portion of the increased expenses on account of regulatory changes and rise in overall input costs."
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India has ordered automakers to adhere to stricter fuel economy standards beginning in April of this year, and by October of this year, all cars must have six airbags.
While this is going on, auto manufacturers have been raising prices to protect margins in a climate of high inflation, even if major material costs have fallen from record highs.
Tata Motors stole the show at the recently held Auto Expo 2023 Motor Show with a variety of vehicles on display, including some prototype EVs that will hit the market in the upcoming years. The automobile manufacturer displayed concept cars including the Altroz Racer edition, Harrier & Safari Dark editions, Curvy, Sierra, Avinya, and EVs.
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