Tata Motors has hiked the prices across its PV range for 2021, much the same way it had done to its CVs recently.
Tata Motors has announced price hikes across its PV range for 2021. The homegrown manufacturer has a remarkably wide passenger vehicle portfolio composed of a bunch of interesting models, viz- Tiago, Tigor, Nexon, Altroz and the Harrier. These vehicles will get price hikes ranging from INR 0 – 26,000 depending on the variants. The revised prices will come into effect from Jan 22,2021. However, those who had booked their Tata cars on or before Jan 21, 2021 would be exempted from the hike and would be able to own their cars at the pre-hike prices.
Tata Motors blames the price revision on the increased material and manufacturing costs. It is no secret that the prices of steel, precious metals and semiconductors have been on the rise in recent times, forcing many manufacturers to increase the prices across their product ranges to stay surfaced in their businesses. Tata Motors had recently brought out an upward revision of the CV prices due to this very same reason.
Tata’s passenger vehicle sales have been booming in the recent past. SUV offerings like the Nexon and the Harrier have been amassing colossal sales numbers in India, while the premium hatchback Altroz stands no behind. Together, these have brought in as much as 39% growth in FY20. While most of the manufacturers dismissed 2020 for a neutral if not an unhappy year in terms of sales, Tata Motors could register a ‘highest in the recent past’ sales number in Q3, 2020. The Indian manufacturer is claimed to have been working on debottlenecking the supply chain and ramp up its production to meet the rising demands.