MOVE TO OFFSET COST PRESSURES, SAYS CARMAKER
TATA MOTORS, INDIA'S third-largest carmaker, will hike prices for the second time this year to offset cost pressures. Following market leader Maruti Suzuki, which also increased prices recently, the maker of Nexon and Safari will carry out a weighted average price increase of 0.6% effective May 1.
Tata Motors company last hiked prices in January. It had raised prices effective February 1 by a weighted average of 1.2%, depending on model and variant. The reason behind both the price hikes remains the same.
"Tata Motors has been absorbing a significant portion of the increased costs on account of regulatory changes and rise in overall input costs and is hence compelled to pass on some proportion through this hike," the company said in a statement.
Diese Geschichte stammt aus der April 15, 2023-Ausgabe von Financial Express Mumbai.
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