Tata Motors hikes prices of Nexon, Safari, Harrier and other passenger vehicles

Tata Motors has announced a marginal price increase across its passenger vehicles. Effective November 7, 2022, weighted average increase will be 0.9%, depending on the variant and model. “The company has been absorbing a significant portion of the increased costs but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike.” the company said in an official statement.

Tata Nexon, Harries, Safari, Tiago and Tigor are the few cars available in the company's portfolio. Tata Motors also sells cars in a number of fuel options such as compressed natural gas (CNG), electric motors (EVs), and internal combustion engines (ICEs).

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It is worth noting that Tata Motors is not the only automaker that is increasing prices of models. Skoda, Toyota, and Kia are among the few automakers that have recently increased the prices of its passenger vehicles including Skoda Kushaq, Kia Carens, and Toyota Fortuner. In order to maintain a cost-of-goods-produced equilibrium, it is anticipated that other manufacturers would follow the trend set by these names.

When it comes to sales, Tata Motors have reported that domestic sales of Safari declined 5.11 percent year over year in October 2022. The company sold 78,335 cars in October 2022 across home and international markets. The brand's December domestic sales of 76,537 units were a 17% rise over the year-ago month's sales of 65,151 units.