Tata Motors to hike prices of passenger vehicles from Feb 1

Tata Motors will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2% on a weighted average basis from February 1, 2023.

The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, and is hence passing on some portion through this hike, the auto major said in a statement.

Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model, it added.

The company sells various models like Nexon, Harrier, Safari and Punch in the domestic market.

In this month, Maruti Suzuki India had also hiked prices of its vehicles across models by about 1.1%. In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs and make provisions to update the model range to conform to stricter emission norms which will kick in from April 2023.

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