Tata Announced Price Hike for PV and EV Range from February 1, 2024

The manufacturer decided to increase the costs of its passenger vehicles in the country due to the rising input costs.
  • Published On: 22/01/24
  • Views
  • 0 Comments
  • Likes
  • 3 min read
Tata Motors

News Highlights

  • The auto giant will also increase the price of the recently launched Punch.ev next month.
  • The company registered a 4.56 percent increase in its annual sales in the calendar year 2023, marking its best-ever performance.

Tata Motors, India’s leading vehicle manufacturer, announced on Sunday that it is going to implement a price hike of 0.7 percent on its entire passenger vehicle range, including electric variants, starting February 1st, 2024. The manufacturer said in a statement that it has decided to increase the costs of all Tata passenger vehicles in the country due to the rise in input costs. Tata has not shared the exact quantum of the price hike implemented on each car.

The company announced that the price surge will be implemented on all its electrical vehicles and internal combustion engine-powered cars as well. This means that variants like Harrier, Safari, Nexon, and Tiago will witness a price surge in their tags. Apart from Tata Motors, other carmakers in the country are also increasing the prices of their passenger vehicles. Maruti Suzuki has already hiked the prices of its entire PV range by up to 0.45 percent owing to the increased production costs. This move came after the company made an announcement in November 2023 that it would be increasing prices starting in January 2024. Tata Motors has also joined this race with other carmakers in India by surging the costs of its entire EV portfolio.

Read more: Tata Tigor and Tiago to be India’s First CNG AMT Cars; Launch Forthcoming

This is not the first time the manufacturer has decided to increase the prices of its models. Last year, on April 13, the company raised prices for its PV range by around 0.6 percent from May 1, 2023. The brand implemented a price hike three times in 2023. Tata Motors registered a 4.56 percent increase in annual sales at 550,838 units in the calendar year 2023, marking its best-ever performance.

The auto giant recently launched the Tata Punch EV in the Indian market as its second electric sports utility vehicle. The Punch EV is also its fourth EV after the Tiago, Nexon, and Tigor. The company will also increase the price of Punch.ev starting next month. Currently, it is available at a starting price of 10.99 lakh (ex-showroom), and it goes up to INR 14.49 lakh (ex-showroom).

Other automobile manufacturers in the country have also announced price surges over the last two months. The carmakers announced that they have decided to increase prices due to higher raw material costs, rising production costs, increasing inflation, etc.

Related Stories

Explore the Safest New Cars of 2024 with Top Safety Ratings

Top New Cars with High Safety Ratings and Essential Safety Features

Rising demand for safer cars has driven Indian automakers to integrate advanced technologies into their newest models. ...

  • Published On: 22/10/24
  • 0 Views
  • 2 min read
Tata Curvv ICE and EV Get 5 Star Rating in Bharat NCAP Crash Tests

Tata Curvv ICE and Curvv EV Score 5-Star Safety Rating in Bharat NCAP Crash Tests

The Tata Curvv is the fifth Tata Motors vehicle to receive a 5-star safety rating, joining the ranks of the Nexon, Punch EV, Nexon ...

  • Published On: 16/10/24
  • 0 Views
  • 2 min read

Author Droom

  • Published On: 22/01/24
  • Views
  • 0 Comments
  • Likes
  • 2 min read

Discover Your Dream Vehicle

Eg: Maruti Suzuki Alto VXI
Eg: Bajaj Pulsar 150
Eg: Honda Activa