Indian car manufacturer Tata Motors (TAMO.NS) announced that it will implement an average 0.6% price increase across models and variants of its passenger vehicles starting from July 17. The decision comes as a measure to offset the lingering impact of previous input costs, as stated in the company's official statement.
Earlier, Tata Motors had already raised prices by 1.2% in January and 0.6% in April due to increased input costs and regulatory changes, respectively. The company's expenses for the quarter ending March 31 surged by nearly 30% compared to the previous year, primarily due to the rising cost of materials consumed.
The automotive industry in India has witnessed an overall
increase in vehicle prices, following the government's mandate to equip
vehicles with emission monitoring devices, resulting in higher manufacturing
costs.
