Tata Motors Mulls Price Hike For Passenger Vehicles, EVs In January 2024

As the year draws to a close, like every other carmaker, Tata Motors. too, is mulling a price increase for its passenger vehicle range, including its electric vehicle portfolio, with effect from January 2024. This decision aligns with similar moves initiated by carmakers such as Audi and Maruti Suzuki. However, Tata Motors has not disclosed the specific percentage of the proposed hike. The imminent price hike is likely to be implemented across the brand’s lineup, ranging from the Tiago hatchback to the Safari SUV, and extending to the brand's electric vehicle offerings as well.

Also Read: Maruti Suzuki To Hike Prices From January 2024

Price hike likely to be applicable from January 1 2024.

Previously, Tata Motors implemented a 0.6 per cent price hike in July 2023, making it the third adjustment for the year as it followed an average price increase of 1.2 per cent in January and another 0.6 per cent in May. The cumulative impact of these adjustments reflects the industry's response to various economic factors influencing production costs.

Also Read: Audi India To Hike Prices From January 2024

Tata Motors has not disclosed the specific percentage of the proposed hike.

As per PTI, a Tata Motors spokesperson confirmed the deliberation on a price hike and assured that detailed information, including the extent of the increase, will be announced in the coming weeks.

It is expected that other automakers will follow suit, revealing their respective price hikes in the days to follow.