Tata Motors Announces Price Hike For All Cars From May 1

Tata Motors announced that it will be hiking the price of all its passenger vehicles from May 1, 2023. The weighted average increase will be 0.6%, depending on the variant and model.

The company said that it has been absorbing a significant portion of the increased costs on account of regulatory changes & rise in overall input costs and is hence compelled to pass on some proportion through this hike.

The company has seen a strong growth in sales in 2022, thanks to the Nexon, Nexon EV and the Punch SUVs. The Nexon has already crossed the 5 lakh production milestone. On the EV front, there has been a massive growth as the company sold close to 5 lakh EVs in 2022 and there is big growth expected this year as well, with the company bringing in some changes to the current models on sale.

Tata Motors is certainly pushing the boundaries when it comes to achieving growth in a sustained manner and we look forward to more cars coming from the company’s stable this year.