Mumbai: Tata Motors on Friday said it will increase prices of its passenger vehicles by an average of 1.8 per cent depending upon the model and variant from May 8, in order to partially offset the rise in input costs.
The auto major noted it would offer protection from the price increase to customers who have booked vehicles on or before May 7. With effect from May 8, the company will increase prices of its passenger vehicles, averaging 1.8 per cent, depending on the variant and model, Tata Motors said in a statement.
Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products, Tata Motors President Passenger Vehicles Business Shailesh Chandra said.