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Tata Motors Looking To Hike Prices During Diwali
When discounts, cash back and vehicle exchange offers have all failed to improve sales for, Tata Motors is now looking at doing the exact opposite. The automaker is planning to hike prices across its model line in a bid to make up for losses in the past few months.
"We are not ruling out the possibility of price hike across the models before the forthcoming festive season," Ankush Arora, Tata Motors, senior vice-president for passenger vehicles business said today.
Indian auto industry which has been struggling to recover registered sales drop for the eighth consecutive month in June, with unit sales at 1,39,632 against 1,53,450 from last year. Tata Motors has been on a downward spiral since April.
But come festival season, things will look brighter, at least comparatively. While generally the company may have provided special festive offers, the situation calls for making up for losses in the past months.
As for festive celebration, Tata Motors could take the opportunity to launch new models that were previewed recently, such as the Nano CNG.
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