Tata Motors Ltd., the pioneer of commercial vehicles and one of the leading passenger car manufacturers in India, has stepped up the prices of its passenger vehicles owing to the rising input costs. The prices of its vehicles are hiked up to Rs. 12000 but the People’s car, Nano and its luxury segment crossover SUV, Aria is exempted from this hike.
On the announcement of hike in prices, a spokesperson of Tata Motors commented, "The high input costs have been impacting us for quite some time. We have decided to pass on some burden to our customers. The quantum of the hike will vary between Rs 7,000 and Rs 12,000 depending on the model."
The beginning of the year 2012 witnessed similar hikes from leading auto giants such as Maruti Suzuki and General Motors, which was initiated due to perpetual revision in the domestic currency value and to cut the effect of shooting input costs.
Meanwhile, where Maruti Suzuki SX4 saw a minimum hike of Rs. 2400 and maximum of Rs. 17000 was indicated for the diesel variant of its hatchback, Swift. Even the prices of Spark, Beat, Tavera and Cruze from the General Motors portfolio were increased from a minimum of Rs. 3000 to a maximum of Rs. 15000.
Other leading automobile manufacturers such as Toyota and Mahindra & Mahindra have also escalated the prices of its various models while Hyundai Motors India Ltd., is still intending to raise the prices of its variants in the Indian auto market.