Various automakers like Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have already announced their decision to hike prices from January next year.
Tata Motors brought disappointment for its customers ahead of new year. The company has said that to deal with constantly rising input cost, it will raise prices of passenger vehicles by Rs 25,000. The new prices will be effectiv from january 2018.
"The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase," Mayank Pareek, President, Passenger Vehicle Business, Tata Motors said.
The introductory prices of the recently launched compact SUV Nexon will be ending by December 31 and this entire range will also witness a price hike from January 2018 by up to Rs 25,000, the company said.
Various automakers like Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have already announced their decision to hike prices from January next year.
Earlier, Tata Motors reported 22 per cent increase in its total global sales at 1,12,473 units for November.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in November 2017 were at 40,845 units, an increase of 51 per cent over the same month last year, the company said .
In the passenger vehicles segment, total sales grew by 10 per cent at 71,628 units last month.
The company said its British arm, Jaguar Land Rover clocked total global sales of 54,244 units, out of which 12,287 units were that of Jaguar and 41,957 units were of Land Rover.
Meanwhile, the stocks of Maruti Suzuki India had hit an all-time high on Monday. The company added another 1.4 per cent gains to hit a fresh record high of Rs 9,167.70 after the global brokerage house raised target price.
Morgan Stanley has retained its overweight call and raised target price to Rs 10,563 (from Rs 9,102 per share). The decision implied a 16.8 per cent potential upside from Friday's closing price.
Morgan Stanley has maintained its forecast of 22 per cent FY18-20 EPS CAGR. At 11:16 AM, the stock price was quoting at Rs 9,125.80, up Rs 84.95, or 0.94 percent on the BSE.
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