Twitter
Advertisement

Tata Motors, Nissan to hike vehicle prices from April

Automakers Tata Motors and Nissan India have announced they will increase the prices of their models from next month in order to partially offset the impact of rising input costs.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

Automakers Tata Motors and Nissan India have announced they will increase the prices of their models from next month in order to partially offset the impact of rising input costs.

In a statement, Tata Motors said it would hike prices of its passenger vehicles (PV) by up to Rs 60,000 from April 1.

"The rising input costs, changing market conditions and various external economic factors, have compelled us to consider the price increase," Tata Motors President, Passenger Vehicle Business, Mayank Pareek said.

He, however, said the company is optimistic of maintaining its growth trajectory in the coming year on the back of a "robust product portfolio like Tiago, Hexa, Tigor and Nexon".

The company sells a range of passenger vehicles, from the Gen X Nano at a starting price of Rs 2.28 lakh to premium SUV Hexa with price going up to Rs 17.42 lakh (ex-showroom Delhi).

Similarly, Nissan said it will increase prices of its vehicles, including products under the Datsun brand, by up to 2 percent in India from next month.

Nissan currently sells three models -- Micra, Sunny and Terrano -- in India priced between Rs 4.64 lakh and Rs 14.46 lakh.

Datsun models -- GO, GO+ and redi-GO -- are currently priced between Rs 2.49 lakh and Rs 5.12 lakh (all prices ex-showroom Delhi).

"Due to rising input costs, we will be increasing the price of our Nissan and Datsun cars with effect from April 1, 2018. We are confident that our cars will continue to offer excellent value and choice to our customers," Nissan Motor India Managing Director Jerome Saigot said.

Last week, German luxury carmaker Audi had announced price hike in the range of Rs 1-9 lakh, effective April 1, to pass on the impact of increased customs duty in the Budget.

Meanwhile, Tata Motors plans to bring in new products in order to have presence in around 95 per cent of Indian passenger vehicles market by 2020, besides working on offering "electric solution" on most of its portfolio going forward.

The company currently sells a range of vehicles from hatchback to SUVs playing in about 70 per cent of the market in India.

"Our resolve is that by 2020, we will cover 95 per cent of the market with various kinds of products," Tata Motors President, Passenger Vehicles Business Unit, Mayank Pareek told PTI on the sidelines of Geneva Motor Show.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement