One of the largest automakers in India, Tata Motors, has announced a price increase for its passenger cars. Starting today, depending on the version and model, there will be a weighted average price rise of 0.55 percent across the board. The business has cited increased input costs for the price hike. Other automotive brands in the Indian markets had also increased the prices of their vehicles citing similar reasons. In addition, this is not the first time Tata Motors is increasing the price of its cars this year.
Back in April, the Indian automaker had increased the prices of its models by 1.1 per cent on average depending on the model and variant. The price hike was effective in the Indian market starting April 23, 2022, and three months down the line there has been another increase.
Similarly, in January 2022, they announced a price rise with an average increase of 0.9 percent depending on the version and model. The Indian automaker gave identical justifications for the price hike at the time.
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Other brands like Toyota, Skoda have also increased the prices of their certain models citing the rising input costs. It is to be noted that the auto industry has been facing severe chip shortages along with disruptions in supply chains resulting in increased input costs to manufacture vehicles.