Tata Motors, the legendary car company of India, is planning to increase the prices of its models available for sale in the Indian market. If you are considering purchasing a Tata model in the upcoming week, this news may be disappointing for you.
In recent months, the prices of copper and other metals have risen, which has led the company to revise the prices of certain models. During a quarterly earnings call, the company’s Managing Director and CEO, Shailesh Chandra, confirmed that the impact of rising commodity prices has significantly affected their revenue, decreasing it by over 2% in the past year.
The overall effect of these price increases on Tata Motors’ cost structure has been substantial enough to necessitate a price revision for their vehicles. However, Chandra did not provide specific details regarding how much the prices would be raised in his statement.
All Tata Motors Models May be Affected
It is currently unknown which specific models will be affected by the upcoming price hike, but reports suggest that Tata Motors plans to increase the prices of all models in its portfolio.
The price increase for each model is estimated to be approximately 1-2%, which will make every Tata car slightly more expensive. The models that may be affected include the Tata Nexon, Tata Punch, Tata Altroz, Tata Harrier, Tata Curvv, Tata Safari, and the latest launch, Tata Sierra.
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You Must Know
Not only Tata, but several other car manufacturers, including Maruti Suzuki, Mahindra & Mahindra, and Hyundai, are also planning to increase their car prices by 1 to 2 percent. This decision is a result of rising prices for copper and other important materials used in car production.
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