Tata Motors' Harrier, Nexon, Tiago, Hexa, Tigor, other passenger vehicles to get costlier; Here's why

If you are planning to buy a Tata Motors car, do it before the end of this month.  Tata Motors said on Saturday that the company would increase prices of its passenger vehicles range by up to Rs 25,000, starting April 2019. This hike in price is due to the rising input costs and external economic conditions, the carmaker said in a release.

Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors said, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are confident of maintaining our growth trajectory in the coming months on the back of our robust portfolio consisting of segment-leading products like TIAGO, HEXA, TIGOR, NEXON and the HARRIER.”

In February, Tata Motors had reported 3% decline in domestic sales to 57,221 units in February 2019 as compared to 58,993 units in the same month last year. The company’s passenger vehicle sales in the domestic market had increased two per cent to 18,110 units in February, compared with 17,771 units in the year-ago period. 

“Despite the challenging environment last month, we witnessed a growth of two per cent, fuelled by the good performance of our new generation products,” Pareek had then said in a statement.

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Tata Motors, a $45 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles. It is part of the $100 billion Tata group.

Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 109 subsidiary and associate companies, including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.

Tata Motors is India’s market leader in commercial vehicles and amongst the top four in the passenger vehicles market.