Following the footsteps of Toyota and Renault, India’s homegrown auto giant Tata has announced price hike across its passenger vehicle lineup. The prices of its vehicles would go up in the range of Rs. 5,000 to Rs. 25,000 depending on the variant. Owing to Macroeconomic aspects the increased prices will be effective from 1st January 2017. This is going to be the third price hike for Tiago hatch since its launch; Tata had previously announced the price hike in August and October this year.
Besides, Tata has also announced the launch of Hexa SUV in India on 18th January 2017 and bookings has already begun for a refundable token amount of Rs. 11,000. With an expected price range of Rs. 12 lakh and 16 lakh, it will go against Mahindra XUV500 and Toyota Innova Crysta. In addition, brand’s latest sensation Tiago hatch featured in the top 10 cars of the month in November. With 6008 unit Tiago grabbed the tenth spot in the list and helped carmaker to post a growth of 22 percent with 10,470 units as compared to same month in the corresponding year.
The brand has extensive plans of expanding its portfolio in the country with Viago compact sedan (Kite 5), Nexon compact SUV, Tiago AMT, Pelican, Tiago Active and new Tata Safari Storme. It is also working on premium hatchback which will rival against Hyundai Elite i20 and Maruti Baleno. Currently, Tata offers a range of vehicles which includes Nano and up to Aria priced in the range between Rs. 2.18 lakh and Rs. 16 lakh (ex-showroom).
According to Mr Mayank Pareek, president, passenger vehicle business, Tata Motors, “The increase in prices of raw material commodities like steel, aluminium, copper and rubber over a period of time has put a lot of pressure on us and as a resultant, we are forced to hike prices of our passenger vehicles. We are seeing good demand for our cars and have witnessed month on month growth owing to the TIAGO. We are gearing up for our next launch of the HEXA in January 2017.”
