Homegrown auto manufacturer Tata Motors on Friday hiked prices for its range of passenger vehicles in India by up to Rs 26,000 due to rising input and material costs.
"Rising input costs and material costs of steel, precious metals and semi-conductors have compelled the company to pass on a part of the cost to customers," Tata Motors said.
However, the company said it will provide protection from price hike to customers who booked cars on or before January 21.
Without giving any additional details, Tata Motors said, the price rise will be up to Rs 26,000 depending on the variant.
Tata Motors is also planning to introduce several new cars and is gearing up to announce the price of its new Altroz iTurbo on January 23. It also plans to make its long-awaited SUV Safari's official debut in India on January 26 (Republic Day).
Tata Motors' passenger vehicle business, witnessing a strong demand for its 'New Forever' range of cars and SUVs, grew 39 per cent in FY21 as compared to FY20, the company said
In Q3FY21, the company registered its highest-ever sales in the last 33 quarters and is currently working on de-bottlenecking its supply chain to ramp up output to meet the increase in demand.
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