India’s leading vehicle manufacturer Tata Motors ,Tata Motors) has dealt a severe blow to its customers. The company has announced a hike in the prices of its passenger vehicles. According to the information given by the company, the prices of Tata’s passenger vehicles have been increased by an average of 0.55 percent. However, the increased prices vary on different models and variants.
The company has attributed the increase in raw material prices to the reason behind the increased prices. According to the company, due to this the cost of manufacturing the vehicles had increased, due to which the decision was taken to increase the prices of the vehicles.
The company has taken comprehensive measures to absorb a significant portion of the increased input cost. However, to offset the residual effect of the accumulated increase in input cost, it is passing on the minimum price increase.