Tata Motors recently announced that it would increase the price range of its passenger vehicles (PVs) starting 1 May 2023. The average hike will be 0.6 percent, depending upon the model and variant of the vehicle.
The price increase occurs as a result of regulatory changes and an increase in overall input prices, both of which were largely absorbed by Tata Motors.
The company stated that "it is compelled to pass on some proportion of the increased costs through this hike."
Due to the adoption of BS6 Phase II norms, the company recently increased the costs of various vehicles including Tigor, Altroz, Tiago, and TATA Punch. Besides, it also increased the rates of passenger vehicles by 5 percent.
According to several media reports, TATA Motors is currently working towards launching the CNG variants of TATA Punch and Altroz hatchback. Both these vehicles were revealed at the Auto Expo 2023.
The Punch and Altroz will be equipped with a split fuel tank which allow and the tanks can be easily adjusted withing the boot floor. A maximum of 30 liters is the capacity of each tank. The exact capacity of the boot has not been unveiled yet by the company.
This year in February, the company entered the CNG segment of automobiles by launching Tigor CNG and Tiago CNG.
Tata Motors was trading at Rs 469.55 at 5:30 pm on Thursday, 13 April 2023, up Rs 4.30 or 0.92 percent. The Ambedkar Jayanti holiday on Friday, 14 April 2023 caused the markets to be closed. On Thursday, it had intraday highs of Rs. 471.90 and lows of Rs. 463.05.