New Delhi: India’s automobile major company Tata Motors is planning to increase price of its all passenger car during the coming festival season.
Tata which has all range of car starting from small car up to luxury vehicles has decided to put burden on the customers.
President of Passengers Vehicles Business Unit, Tata Motors, Mayank Pareek, told media persons, “We will hike process of our vehicles. Currently we are working out on the details of car process.”
When media persons asked him that when will the company is going to increase the cost of cars, he said “It could be during the festival of Diwali.”
He further explained that what was the reason behind such step, he said, “Input costs have increased and some of the industry players have already undertaken price hikes. Moreover, we have also not corrected our prices for a long time.”
Another home based competitor of the company Mahindra and Mahindra has hiked prices of some of its passenger and small commercial vehicles by up to 1 per cent from this month.
On other hand, Hyundai Motor India had announced to hike prices by up to Rs 20,000 across its models in August, while Maruti Suzuki India had also hiked prices of its various models by up to Rs 20,000.