Tata Motors said prices are being increased due to regulatory changes and a rise in overall input costs and will depend on the model and variant. (Image Source: DC Images)
PUNE: Tata Motors, India’s biggest automaker by revenues, on Friday said it would increase prices on an average by 1.2 percent across its passenger vehicles effective from Feb 1.
The Mumbai-based automaker said prices are being increased due to regulatory changes and a rise in overall input costs. However, the company is absorbing a significant portion of the increased cost.
Tata Motors’ portfolio includes a wide range of cars starting with the Tiago, Tigor, and Altroz to the Punch, Nexon, Harrier, and Safari. The increase in the prices will depend on the model and variant.
Meanwhile, Tata Motors posted a net profit of Rs 2,958 crore in the December quarter of last year. The company's consolidated revenue rose by 22.5% to Rs 88,489 crore.