Tata Motors to hike prices of its cars, SUVs from July 17

Tata Motors has decided to increase the prices of its passenger vehicles marginally from July 17. The price hike will be applicable to all its cars and SUVs. Tata Motors has, however, offered price protection on all bookings till July 16, 2023.
 
The price hike of Tata cars will be applicable to both ICE vehicles and EVs. According to the company, on an average buyers can expect a price hike of  0.6 per cent across models and variants. The Indian automobile company has attributed the price increase to the residual impact of the past input costs. Tata Motors claims that it will offer price protection to bookings made up to July 16 and deliveries up to July 31.

Tata Motors registered sales of 2,26,245 vehicles in Q1 FY 2023-24 compared to 2,31,248 units during Q1 FY 2022-23. In terms of domestic sales for the month of June 2023, Tata Motors registered sales of 80,383 units which is marginally higher than the sales figures of June 2022 at 79,606. In terms of total sales in terms of PVs in the domestic market (including EVs), Tata Motors sold 47,235 units in June 2023 compared to 45,197 units in June 2022.

In response to the sales figures, Tata Motors shares closed 1.50 per cent higher at Rs 595.50 in the current session on BSE. Notably, the auto stock has surged 51 per cent this year and zoomed 44 per cent in a year.

Also read: Tata Motors shares in focus today post-June sales show 

Also read: Tata Motors shares surged 800% from pandemic low; more upside likely?

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