Recently Tata Motors announced a price hike on its cars line in India on Tuesday. The price hikes go into effect on Wednesday, with an average rise of roughly 0.9 percent.
The increase of input costs continue to be an issue for car companies in India, and Tata Motors has once again cited this as the reason for the hike in prices of its car. Customers who booked a Tata car on or before Tuesday, however, are safe from price increases.
Tata Motors has announced a modest price increase this month, following Maruti Suzuki. Last week, Maruti revealed a similar decision in a regulatory filing, blaming rising input prices as well.
Almost every automaker that has raised prices in recent weeks has cited growing input and operating expenses as the reason for the move. And, with the chip scarcity most likely to continue for the foreseeable future, the sector as a whole faces issues.