The automobile manufacturing company, Tata Motors today said that it would increase price of its passenger vehicle cars by a maximum of Rs. 25000 from January next year to compensate for the increase in the input costs.
In a statement, the company's Passenger Vehicle Business- President said, "the changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase".
The recently launched compact SUV Nexon will also see a price hike of upto Rs. 25000.
Other automakers including Honda Cars, Toyota Kirloskar, Isuzu and Skoda are also following suit and have announced price hike on passenger cars from January next year.