Country's leading carmaker Tata Motors on Monday announced that effective 3 August, it will increase prices of its passenger vehicles, on an average of 0.8%, depending on the variant and model.
Moreover, the automaker is also offering price protection on all retail till 31 August, 2021.
"For the wellbeing of its business and supporting ecosystem, Tata Motors had recently announced that it has set in motion a comprehensive ‘Business Agility Plan’ to protect and serve the interests of its customers, dealers and suppliers," it said in a statement.
The hike in its passenger vehicle prices comes in the backdrop of the automaker aims to offset the steep rise in procurement cost of essential materials, according to a PTI report.
The Mumbai-based auto major sells a range of passenger vehicles like Tiago, Nexon, Harrier and Safari in the domestic market.
Earlier this month, the country's largest carmaker Maruti Suzuki India hiked prices of hatchback Swift and CNG variants of other models by up to ₹15,000 to counter increase in input costs.
Similarly, Honda has also announced to increase prices of its entire model range in India from August, as it looks to offset the impact increase in commodity prices.
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Tata Motors again hikes prices of passenger vehicles. Details here - Mint
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