Tata Motors to increase prices of all passenger vehicles from February 1

Tata Motors announced today that it will be increasing prices across its internal combustion engine (ICE) portfolio of passenger vehicles. The company cited regulatory changes and rising input costs as the reasons for the price hike.

Effective February 1st, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model. Tata Motors stated that it had been absorbing a significant portion of these increased costs, but was now passing on some of the burden to consumers.

Tata Motors is one of the largest manufacturers of passenger vehicles in India, with a wide range of cars and SUVs available in the market. The company's portfolio includes popular models such as the Tata Nexon, Tata Altroz, Tata Tiago and Tata Harrier.

This will be the second price hike of 2023 after Tata revised the prices in January. The company had announced the price hike due to the same reasons. Tata's current line-up starts with the Tata Tiago. The entry-level variant of the car starts at a price of Rs 5.44 lakh. 

The price increase is likely to impact the buying decisions of consumers, who will now have to pay more for Tata's PVs. Despite the hike in price, the demand is expected to remain high. 

Nexon EV price drop

Contrary to the price hike, Tata Motors announced a significant price drop for its most popular EV, Nexon EV. Additionally, the company even increased the range of the electric vehicle to 453km. 

The company launched the Nexon EV MAX XM trim in the portfolio at an attractive price of Rs 16.49 lakh. This variant will come equipped with Electronic Parking Brake, Automatic Climate control, Electronic Stability Program (ESP) with i-VBAC, Projector Headlamps with LED DRLs and LED tail lamps, Push Button Start, Digital TFT Instrument Cluster, ZConnect Connected Car tech with Smartwatch Connectivity and Rear Disc Brakes.

Also read: Tata Nexon EV price dropped, range increased after Mahindra XUV400 launch; check variant-wise pricing