Tata Motors, the Indian automobile manufacturer has announced that it will be increasing car prices across its car models in the month of January 2014. The carmaker joins other carmakers in India who have already announced price hikes with the aim of offsetting the high input costs along with adverse exchange rate of the Indian Rupee as well as inflation.
The quantum of price hike by the carmaker will be about 1 percent across its passenger car segment while it is currently reviewing the market situation to take a pricing decision for its commercial vehicle business.
Leading car manufacturers, Maruti Suzuki and Hyundai Motor India have already announced price hikes from January 2014. Luxury carmakers in India, namely Mercedes Benz, Audi and BMW have also announced price hike citing similar reasons of inflation and unfavorable economic conditions.