Tata Motors today said it will hike price of its entire passenger vehicle model range by up to Rs 20,000 from January.
"Due to the impact of various macro-economic factors, Tata Motors has decided to increase the prices of its passenger vehicles, with the maximum increase being upto Rs 20,000 on some models," Tata Motors said in a statement.
The company sells various models from entry level Nano GenX to multi purpose vehicle Aria, priced between Rs 1.99 lakh and Rs 15.51 lakh (all ex-showroom Delhi).
Already various car makers including Maruti Suzuki India, Hyundai Motor India, Toyota, General Motors India and German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.
Experts say carmakers usually come up with such year-end announcements which help them clear inventories left after the heavy festival discounts on vehicles.
Stressing on the need to bring new products on time
within stipulated investments, Butschek said: "We need to deliver our new products on time, on cost because the market doesn't wait for us. The customer is not going to be for us."
The company is changing the way it has been working on that front, he said.
"We are not going to continue with the legacy, where all products effectively could launch later than initially planned," Butschek said.
Elaborating on the future products strategy, he said: "We have presented AMP platform with 6-8 topheads and the other platform to come, the Q5 with at least two different topheads and possibly even more in the near future to leverage on these platforms and create economies of scale."
He said the plan is to get "desirable products on one side and on the other get also products that will get us to the cost position, products which are going to be profitable".
