Tata Motors said on Tuesday it will increase prices of passenger vehicles by an average 0.9 per cent effective from January 19, 2022 due to a steep rise in input costs.
"Effective January 19, 2022, an average increase of 0.9 per cent will be implemented, depending on the variant and model," Tata Motors said in a statement.
At the same time, the Company has also taken a reduction of upto Rs 10,000 on specific variants, in response to feedback from customers, it said.
"While the company is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike," the company said.
The hike in prices will not impact on bookings done till January 18.
"In line with the company's customer-first approach, it has again decided to offer price protection to all its customers who have reposed the faith and confidence in the Tata Motors' New Forever range. Assures no impact on Tata cars booked on or before January 18, 2022," Tata Motors said.
( With inputs from ANI )
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