Tata Motors : Models like Tiago, Tigor, Nexon, Altroz, Harrier come in the portfolio of Tata Motors. The company has probably made this increase due to the rising cost of raw materials.
Tata Motors has increased the prices of its vehicles.
The price of its flagship models has been increased by an average of 0.8 percent from August 3. However, the company has said that the cars of its ‘New Forever’ model. Which have been booked till August 31 or before. Will not be affected by these increases.
Raw material prices have risen
It is worth noting that models like Tiago, Tigor, Nexon, Altroz, Harrier come in the portfolio of Tata Motors. The company has probably made this increase due to the rising cost of raw materials. Tata Motors President Passenger Vehicles Business Unit Shailesh Chandra told news agency PTI last week that the company has passed on only a small part of the burden of rising raw material costs to customers.
Chandra had said, ‘We have seen a huge increase in the price of steel and other precious metals in the last one year. The increase in commodity prices in the last one year has had a financial impact of 8 to 8.5 per cent on our revenues.
took many other measures
He said that the company has already taken several other measures to minimize the impact of rising costs so that the customers are not burdened much. Chandra said, “But the gap remained due to high prices of essential commodities. So we are forced to increase the price.
It is worth noting that in the first month of July, Maruti Suzuki India has increased the prices of many of its models by up to Rs 15,000. Similarly, Honda has also announced to increase the prices of all its models from August.