Tata Motors Passenger Vehicles (TMPV) has announced a price hike of up to 1.5% across its passenger vehicle lineup, including both internal combustion engine (ICE) and electric vehicle (EV) models, starting from July 1. The company disclosed this price adjustment through an official filing.
The price increase is intended to partially offset the impact of rising input costs and ongoing inflationary pressures. TMPV mentioned that while it is absorbing a significant portion of the cost escalation internally, it will pass on a portion of the increase to customers through this latest revision. The extent of the price hike will vary depending on the models and variants.
This adjustment will be applicable to Tata Motors’ entire range of passenger vehicles, covering traditional fuel-powered vehicles and electric offerings. The company emphasized that the revision has been carefully planned to maintain the overall value proposition of its products despite cost challenges. Subsequently, TMPV’s shares traded higher at Rs 385.60 on the BSE.
Several major automobile manufacturers have recently implemented measured price increases to safeguard margins while continuing to invest in new products and technologies. Hyundai Motor India, for instance, raised prices by up to Rs 12,800 across its models in June due to escalating input costs and elevated commodity prices. Similarly, Maruti Suzuki India increased prices by up to Rs 30,000 across its portfolio in June, citing sustained growth in input costs. Additionally, Mahindra and Mahindra (M&M) adjusted prices for its SUV and commercial vehicle range earlier this year.
