Tata Motors has announced a price hike across its entire passenger vehicles (PVs) model range effective May 1, 2023. This Mumbai-based Indian carmaker will be increasing the ex-showroom price of all its cars and SUVs by 0.6 percent on average, depending on the variant and model. It’s worth mentioning that this will be Tata’s third price hike in this calendar year for passenger vehicles.
Tata Motors May 2023 price hike:
According to Tata Motors, the increased costs on account of regulatory changes and the rise in overall input costs are the primary reasons for this upward price revision. In an official statement to the media, the company said, “Tata Motors, India’s leading vehicle manufacturer today announced that it will marginally increase price of its passenger vehicles from May 1, 2023.”
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The statement further added, “The weighted average increase will be 0.6%, depending on the variant and model. Tata Motors has been absorbing a significant portion of the increased costs on account of regulatory changes & rise in overall input costs and is hence compelled to pass on some proportion through this hike.”
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Upcoming Tata cars in India in 2023:
Tata Motors is planning to give a major revamp to its car and SUV line-up this year. There are a bunch of products that are slated to be launched in the coming months. The upcoming Tata cars in India in 2023 include the facelifted versions of the Harrier, Safari and Nexon along with a new Racer edition for the Altroz and the iCNG version of the Punch.
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