Tata Motors To Hike Prices Of Its Cars And SUVs From July 17, 2023

Potential Tata customers will soon have to shell out more for their new car or SUV. Tata Motors has announced it will hike prices of its passenger vehicles from July 17, 2023. This marks the third time Tata has hiked prices across its model line-up in this calendar year. The latest hike will be on an average of 0.6 per cent across variants and model lines of its combustion engine vehicles, as well as its electric vehicles. This follows the 1.2 per cent average price hike rolled out in January (for its combustion engine vehicle range), and a 0.6 per cent average price hike introduced in May. In a statement, Tata attributed the latest price hike to the need to ‘offset the residual impact of the past input costs’.

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However, there is some good news for those who have already placed (or are about to place) an order for a new Tata car or SUV. Tata Motors has said it will provide price protection to all fresh bookings made till July 16, and to customers who take delivery on or before July 31.

Also Read: Tata Nexon EV Crosses 50,000 Units Sales Milestone In Less Than 4 Years Since Launch

Tata Motors sold 19,346 electric vehicles in the first quarter of FY2024.

Tata Motors’ combustion engine passenger vehicle range currently comprises seven models in total – the Tiago and Altroz hatchbacks, Tigor sedan, and four SUVs, including the Punch, Nexon, Harrier and Safari. The EV portfolio comprises the Tiago, Tigor and Nexon EVs. Tata’s passenger vehicles are available at prices ranging from Rs 5.60 lakh to Rs 25.01 lakh (all prices, ex-showroom).

Also Read: Tata Motors Expands EV Focus, Aims for 50% Market Share by 2030

The Indian carmaker reported domestic sales of 47,235 passenger vehicles for the month of June 2023. In its sales update, Tata said 64 per cent of its total sales in the first quarter of FY24 came from its SUV line-up. The figure of Tata EVs sold in the first quarter stood at 19,346 units, the highest quarterly figure yet for Tata Motors.

Also Read: 2023 Tata Altroz iCNG Review

“Going forward, we expect the demand to remain robust with the onset of the festive season in the second half of Q2FY24. The supply side situation remains stable”, said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.

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Tata Motors is readying a number of new SUVs for launch in the coming months, including the new Nexon and a handful of EVs such as the Curvv and the Harrier EV.