Tata Motors has announced that it will be hiking prices across its model range by up to
Rs 40,000. The move is set to come into effect from January 1, 2019.
The brand said that the hike in pricing was necessitated due to rising input costs and fuel prices.
“The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase,” said Mayank Pareek, President (Passenger Vehicle Business Unit), Tata Motors in a statement.
He added that the brand was confident on maintaining its growth trajectory into 2019, on the back of its existing portfolio and the upcoming launch of the Harrier SUV.
The Indian automaker has been fairly active in the Indian market this year with the launch of models such as the Tiago and Tigor JTP, the debut of the all-new Harrier and the 45X concept – a precursor to a production premium hatchback that'll rival the Maruti Baleno. The automaker, earlier in the year, also announced the end of production of the Indica V2 and the Indigo eCS.