The company stated that rising input-cost are the reason behind the price increase. "The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase,” said Mayank Pareek, President, Passenger Vehicle Business, Tata Motors.
Carmakers like Skoda, Isuzu and Toyota have also recently announced a price hike stating similar reasons. The recently launched Tiago hatchback, Tigor Sedan and Nexon compact SUV have contributed significantly to the company's recent growth. Since September, Tata has sold 5,871 units of the Nexon as of October-end and the company expects to sell over 2,500 units in November. The company recently rolled out its 10,000 th Nexon from its factory.