Tata Motors will be increasing prices across its entire car lineup from January, 2018 onwards. The company has officially confirmed the price hike, citing a rise in input costs as the major reason behind the decision. Tata Motors launched the Nexon sub-compact SUV sometime back at an introductory price of Rs. 5.85 lakhs (ex-showroom) onwards and had already stated that the prices will be increased by the 31st of December, 2017.
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The same increase will now be seen in case of all the company’s car models in the Indian market. Prices are expected to be increased by up to Rs. 25,000 as per the company’s official statements. Mayank Pareek, the President of the Passenger Vehicle Business at Tata Motors, confirmed this hike from next month and attributed it to several economic factors including rising input costs. He remained positive, however, about maintaining high sales volumes from popular models like the Nexon, Tiago, Tigor and the Hexa crossover-SUV.
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The Nexon is one of the most popular offerings in the compact SUV category and notched up 10,000 production units sometime back, making it a successful launch for Tata Motors. Tata Motors is trying to regain market share in India on the back of successful new cars like the Tiago hatchback, Tigor compact sedan and the Hexa premium crossover along with the Nexon. All these cars sport the company’s new design language and have contributed towards a major revival in sales for the once beleaguered Indian automaker.