Tata Motors to increase prices of passenger vehicles effective May 8

 

Tata Motors has increased passenger vehicle prices and also extended price protection for customers who have booked vehicles on or before 7th May. The company on Friday announced that effective 8th May, it will increase prices of its passenger vehicles, averaging 1.8%, depending on the variant and model.

The company will offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 7th May, it said. The auto major said that the price hike was due to increase in prices of commodities like steel and precious metals.

According to Shailesh Chandra, President – Passenger Vehicles Business, “Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products. Keeping in mind the interest of customers who have booked cars already, we are offering price protection for all bookings done till date (on or before 7th May 2021).''

''This price increase will be effective for bookings made thereafter (effective 8 May 2021). Our ‘New Forever’ product range continues to witness strong acceptance in the market and we are thankful to our customers for their continued trust in the brand,'' Chandra said.

The company had announced price increase across its commercial vehicle range in January.