Tata Motors has announced a price hike across its entire vehicle lineup, effective January 2025. This price increase, up to 3% depending on the model and variant, will apply to all SUVs, electric vehicles (EVs), and other passenger vehicles in its portfolio. The decision comes as the automaker faces rising input costs and inflation, a challenge echoed by other major brands like Maruti Suzuki, Hyundai, and Mahindra.
Impact on Tata’s EV Range
Tata’s expanding electric vehicle lineup, which includes popular models like the Nexon EV, Punch EV, Curvv EV, and Tiago EV, will also experience price adjustments. With the demand for EVs steadily growing, the price hike reflects increased production expenses in the segment. Customers planning to invest in Tata’s EVs might find it advantageous to make their purchases before January 2025 to avoid paying higher prices.
Tata Motors’ Sales Performance in November 2024
Despite the impending price hike, Tata Motors has shown stable performance in sales. The company delivered 74,753 units in November 2024, marking a slight increase from 74,172 units sold in the same month last year.
The passenger vehicle segment, including EVs, recorded a 2% growth, with 47,117 units sold compared to 46,143 in November 2023. Similarly, the domestic passenger vehicle segment grew marginally, with 47,063 units sold in November 2024, up from 46,068 units in the previous year.
Industry-Wide Trend of Price Hikes
Tata Motors is not alone in implementing a price hike. Maruti Suzuki has announced a price increase of up to 4%, while Hyundai plans to raise prices by as much as ₹25,000. These adjustments underscore the broader industry challenge of inflationary pressures and escalating production costs.
For prospective car buyers, December 2024 presents a critical window to purchase vehicles before these price increases come into effect, particularly for those considering Tata’s popular SUVs and EVs.
