By Malvika Gurung
Investing.com -- Due to rising input costs, commodity prices, and raw material costs, automakers like Tata Motors (NS:), Renault (PA:) and Honda Motor Co Ltd (T:) are joining the bandwagon of hiking vehicle prices. As per a PTI report, TaMo is expected to raise its vehicle prices, starting January 2022 to offset the impact of rising costs.
On Dec 2, 2021, the country’s largest carmaker Maruti Suzuki (NS:) announced to increase the prices of its vehicles, starting January next year due to rising input costs. Even the luxury brand automakers, like Mercedes-Benz and Audi, will be hiking prices on their models starting January.
In response to expectations of rising vehicle prices, Tata Motors responded that due to the continuing rise in prices of commodities, raw material and other input costs, an appropriate price hike appears to be mandatory for offsetting impacts, even on a partial scale.
Additionally, not only have the prices of essential commodities like , aluminium, , plastic and essential metals shot up, transportation costs have risen too.
Shares of Tata Motors were trading 1.12% lower at Rs 474.7 apiece at 10:15 am on Monday.
Following Maruti Suzuki, Tata Motors Likely to Hike Vehicle Prices; Stock Slides - Investing.com India
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