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Indian automaker Tata Motors will be increasing prices across its passenger vehicles in the country from May 8, 2021, the company said in a statement. The quantum of the price hike will average about 1.8 per cent, depending on the model and variant. That being said, customers who booked Tata cars on or before May 7 this year will be protected from the price increase, the automaker confirmed. The price hike is a part of Tata's 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers.
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Customers who booked models on or before May 7, 2021, will be protected from the price increase
Speaking about the price hike Shailesh Chandra, President - Passenger Vehicles Business, "Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through an increase in the 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."
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The price hike has been attributed to the rise in the cost of raw materials, which were necessary to be passed on to customers. This is the brand's second price increase this year. The automaker had previously increased prices in January by up to ₹ 26,000. Meanwhile, the automaker's production facilities remain closed in the wake of the COVID-19 pandemic. Sales in April 2021 declined by 41 per cent month-on-month after the lockdowns were imposed in several parts of the country last month.
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