Tata Motors cars: prices of passenger vehicles to be hiked from this date

Tata Motors on Monday said it will hike prices of its passenger vehicles with effect from July 17.

The company will increase prices of its passenger vehicles (including EVs) by an average of 0.6 per cent across models and variants, Tata Motors said in a statement.

The price increase is to offset the residual impact of past input costs, it added.

The auto major noted that it will offer price protection to bookings made up to July 16, 2023 and deliveries up to July 31, 2023.

Tata Motors posts 1% rise in its June sales

Tata Motors on Saturday reported a 1% rise in total domestic sales at 80,383 units in June 2023 as against 79,606 units in the year-ago month.

Domestic passenger vehicle sales, including electric vehicles, were at 47,235 units as compared to 45,197 units in the same month a year ago, a growth of 5 per cent, Tata Motors said in a statement.

Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said the passenger vehicle industry in Q1 FY24 witnessed a robust demand driven by new launches, especially in the SUV segment and EVs.

"Tata Motors continued its growth trajectory registering quarterly sales of 1,40,450 units in Q1 FY24 and recording a growth of 8 per cent over Q1 FY23," he added.

In the EV segment, he said the company posted its "highest-ever quarterly sales of 19,346 in Q1 FY24, registering a growth of 105 per cent over Q1 FY23".

"This growth is driven by a strong market response to Tiago EV while demand for other EVs was sustained," Chandra said.