Tata Motors hikes passenger vehicle prices to offset rising input costs

Tata Motors on Saturday said it has increased prices of its passenger vehicle range with immediate effect to partially offset the impact of rising input costs.

A weighted average increase in price of 0.55 per cent will come into effect starting Saturday across the range, depending upon the variant and model, the homegrown auto major said in a statement.

The company has taken extensive measures to absorb a significant portion of the increased input costs, it said.

"However, to offset the residual impact of the accumulated increase in input costs, it is passing on a minimised price hike," it added.

The company sells a range of models including Punch, Nexon, Harrier and Safari in the domestic market.

Tata Motors has already hiked prices of its commercial vehicles range by 1.5 - 2.5 per cent from this month.