The price hike is being undertaken to partially offset the impression of rising commodity costs and different enter prices, Reuters reported, citing the corporate.
Earlier in February, Tata Motors Passenger Vehicles Ltd (TMPVL) shared plans to extend automobile costs attributable to continued stress from rising commodity prices.
Also learn: Tata Motors passenger vehicles likely to get costlier soon as CEO warns of rising commodity prices
TMPVL’s Managing Director and CEO Shailesh Chandra mentioned that the corporate has been going through larger enter prices for almost a 12 months, and the impression is now important sufficient to warrant a worth revision.
Speaking throughout a quarterly earnings name, Chandra had mentioned the rise in commodity costs, particularly treasured metals and copper, has added stress on the corporate’s value construction.
“Yes, we have been facing pressure on the commodity side for nearly a year now. Still we see pressure on the precious metal side, copper and so on. Overall, if you see the impact of commodity price increase, it has been for us about 2 per cent plus of our revenues,” he mentioned.
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Major automakers, together with Audi and Hyundai have already introduced worth hikes for his or her automobiles, whereas India’s largest carmaker Maruti Suzuki is weighing a chance of revising costs as enter prices rise.
Official from Maruti Suzuki India Ltd in February mentioned that it’s reviewing a doable worth improve for its automobiles as enter prices rise, whilst demand stays sturdy following latest GST charge reductions.
Senior Executive Officer (Marketing & Sales) Partho Banerjee famous that rising commodity costs—significantly treasured metals—are pushing up prices, prompting the corporate to intently monitor the scenario amid ongoing geopolitical uncertainty.
“On the commodity front, prices are going up. In precious metals, the increase is phenomenal,” Banerjee mentioned. “We are keeping a very close watch… but yes, in times to come, we are going to review the price increase.”
Meanwhile, German luxurious automaker Audi has introduced a hike in automobile costs by as much as 2 per cent from April 1, 2026 to partially offset escalating enter prices and hostile impression of foreign money fluctuations.
Audi India introduced that the worth hike will likely be throughout the mannequin vary and the ex-showroom worth of fashions will improve as much as 2 per cent.
