Excludes small car Nano and crossover Aria from the price hike.
Tata Motors has announced a price hike for all its models, except Nano and Aria, to cover for rising input costs. The hike in the range of Rs 7,000 to Rs 12,000 will also mitigate the impact of currency fluctuation. The new rates are effective from yesterday across the country.
Tata Motors had refrained from the customary price hike at the start of the year, due to the low demand. The company registered a substantial growth of 16 per cent in the month of January as compared to the same month last year. All manufacturers generally hike prices at the start of the year, but didn't follow the trend this time around. Maruti, Toyota and many others waited for a while before confirming the new prices.
Tata is one of the last manufacturers to hike prices, which is approximately in the range of 1 to 2.5 per cent. The prices are expected to remain stable for a while, unless there are any changes in the policy towards the auto industry in the forthcoming budget.