Domestic vehicle maker Tata Motors said on Saturday that it will increase the cost of its passenger vehicles by 25,000 rupees from April. The company said that due to cost escalation and external economic conditions, it is increasing prices. Prior to this, Toyota and Jaguar, Land Rover have announced to increase the price of select models from April.
"Changing the market conditions, increasing costs and various external economic factors have forced us to consider the hike in prices," said Mayank Pareek, president (passenger vehicle business unit) Tata Motors. Tata Motors now sells from Nano to premium SUV Hexa whose price ranges from Rs 2.36 lakh to Rs. 18.37 lakh.
It is worth mentioning that in the month of February, the sales of car makers have increased. Last month, there was a slight increase in Maruti's domestic sales, while Honda Cars and Mahindra gained a strong lead in double digits. Two percent increase in the number of the passenger vehicle was seen in Tata Motors, a slight decline was seen in the sales of sales Tata Kirloskar Motor last month.
In the statement released by Tata Motors, after the sales figures of last month were revealed, the sales of passenger vehicles in the domestic market were at 18,110 units, with an increase of 2 percent in the domestic market. In February 2018, the company sold 17,771 passenger vehicles. Tata Motors has a big setback this year due to JLR in China.
