Tata Motors on Monday announced that the company would be increasing prices of its entire passenger vehicles range by up to Rs 25,000, starting January 2018. Not only Tata but most of the major automakers in the country are going to increase prices of their models from the next month due to rising input costs.
Toyota was the first to announce a three per cent price hike in January while Mahindra & Mahindra announced 1.5-3 per cent increment in the prices of its passenger vehicles. The price hike on Ford models will be ranging between 1 per cent and 3 per cent while the Honda cars will
According to Mayank Pareek, President, Passenger Vehicle Business, Tata Motors, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase. We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like Tiago, Hexa, Tigor and the recently-launched Nexon.”
Tata has already announced its year-end offer campaign which includes insurance and exchange benefits of up to Rs one lakh along with up to 100 per cent finance. Other carmakers have also announced such year-end offers as discounts from Rs 21,200 to Rs 1.5 lakh on Honda cars, depending on the model and variant selection.
The companies are offering these discounts to attract more customers and close the year with a good sales figure. A few manufacturers are also throwing these offers to clean out its stock for an updated inventory. Audi hasn’t announced any price hike for January but the luxury carmaker is giving discounts from Rs 3 lakh to Rs 8.85 lakh on selected models.
With the discount offers valid till December 31, post which car prices are set to rise, this seems the best time to get your hands on the car you were planning to buy.