Tata Motors will increase the price of its passenger vehicles (PVs) and electric vehicles (EVs) from 1 February 2024. On an average, the prices of cars will be increased by 0.7 percent. According to an official statement released by the company, " This increase will be effective 1 February 2024, and is being taken to partially offset the rise in input costs."
According to reports, some of the passenger vehicles that will see a surge in the prices will include Tata Ace, Tata Intra, Tata Winger, and more. The overall global wholesales increased by 9 percent on year at 3,38,177 units in Q3FY24, says the company. In Q3 FY24, the company's commercial vehicles and Tata Daewoo line had global wholesales of 98,679 units, indicating a 1% year-over-year rise.
In the passenger vehicles segment, Tata Motors' global wholesales came in at 1,38,455 units in Q3FY24 at a growth of 5 per cent on-year. JLR's global wholesales stood at 101,043 units in Q3 FY24, a significant jump of 27 percent Year on Year. Jaguar and Land Rover wholesales for the quarter were reported at 12,149 and 88,894 units respectively.
These figures do not include the volume of CJLR, a joint venture between JLR and Chery Automobiles and an unconsolidated subsidiary of JLR, says the company.
Tata Motors is not the only company to increase the prices of its cars. Recently, Maruti Suzuki India officially announced that it will hike the prices of its cars in the country. The decision has been taken in response to the costs brought on by general inflation and rising commodity prices.
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)