 "Tata may up car prices")
The hike in prices could be brought into effect before the festive period, said a senior executive of the company. If the Mumbai-based company goes ahead with the hike it will join the league of Mahindra & Mahindra and General Motors who have already increased prices.
Ankush Arora, senior vice president - commercial (passenger vehicle business unit), Tata Motors, said, "We are not ruling out the possibility of a price hike". He however declined to quantify the hike planned by the company.
Sales of Tata Motors plunged 30% during the first three months of this year at 52,682 units, according to data provided by SIAM. The fall was much sharper than the industry which reported a slide of 7% during the same period.
The reason for the hike is the depreciation in valuation of the Indian currency. While the local content in Tata Motors cars is very high there are certain parts used in its vehicles are imported by its vendors.
The company rolled out its new brand identity for its service programme 'Tata Motors Service'. It will soon introduce a biometric and RFID-based real time trackign system of vehicles to provide live information regarding the location and status of vehicles while the workshop.
It also unveiled the 'Doorstep Service Van', developed on the Super Ace, to offer quick service for emergency services or for periodic maintenance. This service will be introduced in 20 cities initially before gradually expanding the reach.