Tata Motors to hike passenger vehicle price on rising costs

Tata Motors said on Friday it will increase prices of its passenger vehicles by an average of 1.8 per cent due to rising input costs.

"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," Tata Motors President Passenger Vehicles Business Shailesh Chandra said.

"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 May 7). This price increase will be effective for bookings made thereafter (effective May 8)."

Tata Motors sells a range of vehicles starting from entry hatchback Tiago to newly-introduced Safari SUV, priced between Rs 4.85 to Rs 21.4 lakh (ex-showroom Delhi), besides Harrier and Nexon.

The company recently set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers.

( With inputs from ANI )