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Tata Motors, Ford, Nissan to hike prices from January

Press Trust of India  |  New Delhi 

Automobile manufacturers, Tata Motors, India and India Thursday announced plans to hike prices of their passenger vehicles from next month to partially offset the impact of rising input costs.

India said it will increase prices by up to 4 per cent across its models.

"The revised prices will be applicable across all available models for and Datsun, effective January 1, 2019," the company said in a statement.

The company sells a range of passenger vehicles under two brands -- Nissan and Datsun starting from entry level Datsun RediGo to priced between Rs 2.56 lakh and Rs 2.12 crore.

"In the wake of the global commodity price increase and shift in foreign exchange rates, we need to pass on the rising costs to our consumers," India (sales and commercial) Hardeep Singh Brar said in a statement.

Earlier in the day, India announced that it will increase prices of its models by up to 2.5 per cent from January to partially offset the impact of rising input costs.

"We are taking this step due to increase in input price owing to high commodity prices and frequent fluctuations in foreign exchange rates," India - Marketing, Sales and Service, told PTI.

Ford sells a range of models, from compact utility vehicle Freestlye (starting price Rs 5.23 lakh) to priced at Rs 74.62 lakh (all prices ex-showroom Delhi).

Similarly, also 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 to the premium SUV Hexa, which are currently priced between Rs 2.36 lakh and Rs 17.97 lakh (ex-showroom Delhi).

"The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase," of Mayank Pareek said.

Maruti Suzuki, Toyota Kirloskar, BMW, and have already announced price hike from next month citing impact of increase in commodity prices and foreign exchange rates.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 13 2018. 20:05 IST