Tata Motors to Raise Prices Across Range to Counter Rising Costs
Tata Motors announces a 0.7% price increase across its entire range of vehicles, including ICE and EV models, effective from February 1, 2024, to mitigate rising input costs.
JAMSHEDPUR – Tata Motors has declared a price hike of 0.7% for its entire range of vehicles, both ICE (Internal Combustion Engine) and EV (Electric Vehicles), effective from February 1, 2024.
This move comes as a strategy to partially offset the escalating input costs.
Currently, Tata Motors boasts a diverse portfolio with seven ICE and four EV models, including popular names like Tiago, Tiago EV, Tigor, Tigor EV, Punch, Punch EV, Altroz, Nexon, Nexon EV, Harrier, and Safari.
Recently, the automaker expanded its electric vehicle offerings with the launch of the Tata Punch EV in India.
Priced starting at Rs. 10.99 lakh (ex-showroom), the Punch EV marks the fourth electric model by Tata Motors.
Available in five variants, it offers an ARAI-certified maximum range of up to 421km, underlining Tata Motors‘ commitment to expanding its electric vehicle segment.
This price revision is part of a broader trend in the automotive industry, with several other major manufacturers also announcing similar hikes.
Earlier this month, Tata Motors reported a 9% year-on-year increase in global wholesales, with a significant 27% jump in JLR’s global wholesales, indicating a strong market performance despite the challenges.
