Tata Motors hikes prices for its passenger vehicles effective from Nov 7

Auto giant Tata Motors has said that it will marginally hike the prices across its passenger vehicles from November 7. In July, the auto major had announced a marginal price hike of 0.55 per cent for its PV range. A few changes were made in January and April 2022.

"Effective November 7, 2022, the weighted average increase will be 0.9 per cent, depending on the variant and model," the company said in a statement.

The auto major explained that it has been bearing a great portion of the increased costs, but due to rising overall input costs, it has to pass some of the prices to the consumers through this minimal price hike.

The auto major has a number of famous passenger vehicles, such as Tiago, Punch, Nexon, Harrier, and Safari. The latest price hike will be applicable to all Tata cars.

Earlier this week, Tata Motors said its sales in domestic and international market for October 2022 stood at 78,335 units compared to 67,829 units in October 2021, recording a growth of 15.49 per cent, mostly due to the festive rush.

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The total sales included domestic sales of 76,537 units in October 2022 compared to 65,151 units a year ago (October 2021), higher by 17 per cent.

Domestic sales include commercial vehicle sales of 31,320 units and passenger vehicle sales of 45,271 units in October 2022.

While domestic commercial vehicle sales were flat, the domestic passenger vehicle sales increased by 33 per cent last month.

Total commercial vehicle sales were lower by 2 per cent at 32,912 units while total passenger vehicle sales were higher by 33 per cent at 45,423 units in October 2022 compared to October 2021.

The company recorded 158 per cent increase in EV passenger sales at 4,277 units in October 2022 compared to 1660 units in October 2021.

Recently, Tata Motors announced that it would discontinue around six variants of its Nexon SUV. The discontinued variants are XZ, XZA, XZ+ (O), XZA+ (O), XZ+ (O) Dark, and XZA+ (O) Dark.