Mumbai: Tata Motors has announced price hike of its passenger vehicles averaging 1.8%, depending on the variant and model effective 8th May. However, the company will offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 7th May.
The company has attributed the price hike to rise in prices of key commodities like steel, precious metals.
“Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products. Keeping in mind the interest of customers who have booked cars already, we are offering price protection for all bookings done till date (on or before 7th May 2021). This price increase will be effective for bookings made thereafter (effective 8 May 2021). Our ‘New Forever’ product range continues to witness strong acceptance in the market and we are thankful to our customers for their continued trust in the brand” said Shailesh Chandra, President – Passenger Vehicles Business.