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Come Jan 1, you'll have to pay up to Rs 40,000 more for Tata Motors' cars

The company's passenger vehicles portfolio ranges from entry-level small car Nano to the premium SUV Hexa

Press Trust of India  |  New Delhi 

Tata Motors

Thursday said it will hike prices of its passenger vehicles across models by up to Rs 40,000 from January 1, 2019, to offset the impact of rising input costs and increase in fuel prices.

The company's passenger vehicles portfolio ranges from entry-level small car Nano to the premium SUV Hexa, which are currently priced between Rs 236,000 and Rs 1.797 million (ex-showroom Delhi).

The company will launch its new premium SUV Harrier in January.

"The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase," President of Passenger Vehicles Business Unit Mayank Pareek said in a statement.

The company would be increasing prices of its entire passenger vehicles range by up to Rs 40,000 (depending on the model and city), starting January 1, 2019, the statement added.

joins other companies such as Maruti Suzuki, Toyota Kirloskar, and Isuzu, which have also said they would increase prices of their vehicles from January, citing impact of increase in commodity prices and foreign exchange rates.

Pareek said despite the price hike, Tata Motors is "optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio".

"Early 2019 will also mark the entrance of our most awaited SUV the Harrier," he said.

First Published: Thu, December 13 2018. 11:35 IST