After Maruti Suzuki, now Tata Motors can also increase the rates of their cars from next month i.e. New Year. The company is planning to increase the prices of all its models from January 2023. This was hinted by Shailesh Chandra, Managing Director, Passenger and Electric Vehicle, Tata Motors, in an interview. However, he did not specify by how much the prices of the cars would be increased.
Shailesh Chandra said that the company is considering increasing the prices of its cars to make them compliant with the emission norms that will come into effect from April 1, 2023. He said, “Regulatory changes will have an impact on the cost. Even the softening of commodity prices is going to have an impact from the next quarter itself.
Chandra said that the prices of batteries have also increased, but so far its burden has not been put on the market. He said that as far as commodity prices are concerned, based on its impact, we are evaluating whether to increase the prices. Chandra said battery prices and new regulations have had an impact on the EV side as well.
Chandra further added that there is also a cost involved in making the model range compliant with the new emission norms. “We are looking forward to a possible price increase for both ICE and EV next month due to all these factors,” he said. Tata Motors sells vehicles like Punch, Harrier, Safari, Nexon, Tiago EV and Nexon EV.
At the same time, 4 days ago, the country's largest car company Maruti Suzuki India Limited had announced to increase the prices of its cars. The car company said that it plans to increase the prices of all models from January 2023 due to cost pressure due to inflation and regulatory requirements. However, Maruti has not revealed by how much the prices of the cars will be increased.
