Tata Motors Hike Price: There is bad news for car buyers. Tata Motors, one of the country’s largest car manufacturers, has decided to increase the prices of many of its cars including SUVs from next month.
Tata Motor Price Hike: If you are planning to buy a car next month, then the burden on your pocket is going to increase further. The country’s leading automobile company Tata Motors Price Hike has announced to increase the prices of its cars once again. The new prices will be applicable from next month i.e. from 1st May. The company has informed about an average increase of 0.6 per cent in the prices of its cars. It is worth noting that the prices of the car have been increased according to different models and variants.
Why did the company increase the prices
Tata Motors has attributed the increase in car prices to rising costs. The company says that since the BS6 Phase 2 rule implemented by the government in the last few days, the company has had to make some changes in its cars. Earlier the company was bearing its entire burden, but now a part of it will be passed on to the customers. After this decision, the prices of the company’s cars like Tiago, Tigor and Altroz are going to increase from Rs 5.54 lakh to Rs 25 lakh. Along with this, the prices of SUV cars like Punch, Nexon, Harrier and Safari will also increase.
Prices have increased twice before
Earlier in the year 2023, Tata Motors had announced to increase car prices for the first time in January, which came into effect from 1 February. At that time, the company attributed the increase in regulatory changes and input costs. Apart from this, Tata Motors had increased the prices of its commercial vehicles by 5 percent. These rates have come into effect from April 1, 2023. In this way, the prices of Tata Motors vehicles have been increased 3 times during the first four months of 2023.
Why are the prices of cars increasing?
Significantly, from April 1, BS 6 Phase 2 standards have been implemented across the country. In such a situation, all the car manufacturing companies will have to install such devices in their cars, so that it can be known that how much pollution is being caused by the car. The cost of the car has increased due to the installation of this device. In such a situation, now the companies are putting its burden on the customers. It is worth noting that at this time the customers are facing the double whammy of expensive EMI along with the expensive car. Car loans have become costlier due to the continuous increase in the repo rate of RBI. In such a situation, now you will have to spend more money to buy a car.
