Tata Motors announces price hike on Nexon, Harrier, Safari from November 7

Tata Motors announced Saturday that its passenger car prices will increase effective November 7. As a whole, the auto sector is seeing steady monthly increase thanks to the passenger vehicle market. Tata Motors did not provide model-specific pricing increases, but did say that across models and variants, the average price increase will be 0.9%. The price hike results from the higher cost of production inputs used in the assembly of vehicles. In a statement, Tata Motors said that up until now, the firm had been absorbing the sharp increase in input costs, but that starting today, it will begin passing along a part of that increase in the form of higher prices.

Tata Motor said, "The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike."

Tata Nexon, Safari, Harrier, Tiago, and Tigor are just few of the vehicles that are available from this Indian carmaker. The company's cars have also made an impact in several markets because to its flexible use of powertrains such compressed natural gas (CNG), electric motors (EVs), and internal combustion engines (ICEs).

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It's important to remember that Tata Motors is not the only automaker to increase pricing. Skoda, Kia, and Toyota, to name a few, have all recently raised the pricing of some models, including the Skoda Kushaq, Kia Carens, and Toyota Fortuner. In order to maintain a cost-of-goods-produced equilibrium, it is anticipated that other manufacturers would follow the trend set by these names.

Safari, however, reported that domestic sales declined 5.11 percent year over year in October 2022. The company sold 78,335 cars in October 2022 across home and international markets. The brand's December domestic sales of 76,537 units were a 17% rise over the year-ago month's sales of 65,151 units.