Tata Motors today said it would hike prices of its passenger vehicles (PV) by up to Rs 60,000 from April 1 to offset rising input costs. The company sells a range of passenger vehicles beginning with Gen X Nano at a starting price of Rs 2.28 lakh to premium SUV Hexa with the price going up to Rs 17.42 lakh (ex-showroom Delhi).
"The rising input costs, changing market conditions, and various external economic factors have compelled us to consider the price increase," Tata Motors President, Passenger Vehicle Business, Mayank Pareek said.
He, however, said the company is optimistic about maintaining its growth trajectory in the coming year on the back of a "robust product portfolio like Tiago, Hexa, Tigor, and Nexon". Last week, German luxury carmaker Audi announced price hike in the range of Rs 1-9 lakh, effective April 1 to pass on the impact of increased customs duty in the Budget.