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Tata Motors hikes passenger vehicle prices

·1-min read

The announcement was made after market hours on Friday, 22 January 2021. Shares of Tata Motors shed 0.36% to settle at Rs 289.40 yesterday.

Rising input costs and material costs of steel, precious metals and semiconductors have compelled the company to pass on a part of the cost to customers.

Tata Motors has marginally increased prices from 0 to Rs 26,000, depending on the variant. Continuing its commitment towards customers, the company will also offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 21 January 2021.

Tata Motors PV Business has been witnessing strong demand for its ‘New Forever' range of Cars & SUVs and grew by 39% in FY21 over FY20. In Q3FY21, Tata Motors also registered the highest ever sales in last 33 quarters and continues to work on debottlenecking the supply chain and ramp up its output to meet the increased demand.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. Part of the Tata group, Tata Motors is India's largest and the only OEM offering extensive range of integrated, smart and e-mobility solutions.



Source: Capitalmarket.com