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Tata Motors Announces Price Hike – Check Out All Details
Tata Motors has announced a price hike on its cars from February 1, 2023, onwards. However, the upcoming price hike is only applicable on ICE (Internal Combustion Engine) models.
That being said, Tata Motors has blamed rising input costs and regulatory changes as the primary reason for the upcoming price hike. Apart from that, all ICE-equipped models of Tata Motors is expected to receive a price hike of around 1.2 per cent.
Despite the upcoming price hike, we do not expect the overall sales figures of Tata Motors to decline. In fact, we expect Tata Motors to carry forward its momentum in the coming months as well with consistent MoM and YoY sales figures as the automaker has managed to create a good reputation with its build quality.
Apart from that, Tata Motors is planning to introduce new CNG models in the coming months and we expect these new models to boost the overall sales figures. Furthermore, the automaker is also working on newer models including electric vehicles. As such, we do not expect the sales figures of Tata Motors to decline anytime soon.
At present, Tata Motors is competing with Hyundai for the second spot in terms of sales figures and we expect Tata Motors to give even tougher competition to Hyundai this year. In addition to that, we expect upcoming CNG and electric vehicles to further boost the overall sales figures of Tata Motors.
Also, Tata Motors is currently working on the Tata Curvv concept and this model comes with internal combustion engine options and we expect this model to be positioned above Tata Nexon to rival the likes of C-Segment SUVs such as Hyundai Creta, Kia Seltos, Skoda Kushaq and a few more.
It is also worth mentioning that the Hyundai Creta is the best-selling Hyundai product in India, and Tata Motors lacks a product in this category. As such, the launch of the Tata Curvv in the Indian market is expected to give a lot of boost to the overall sales figures and we also expect sales figures of Creta and Seltos to take the most hit.
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We do not expect the overall sales figures of Tata Motors to decline despite the upcoming price hike. Apart from that, Tata Motors is planning to introduce new CNG models in the coming months and we expect these new models to boost the overall sales figures.