Tata Motors announces that it will hike prices of its passenger vehicles by up to Rs 36,000 from April 1, while rivals Maruti Suzuki India and Hyundai are also mulling a similar move in order to offset rising input costs.
The companies said they are facing intense pressure on their margins and bottomline due to rising input costs.
"Despite continuous cost control initiatives, the company is being forced to take these increases on account of steep rise in input costs," Tata Motors said.
Under the revised price, the hatchback Indica will be costlier by Rs 7,000-9,000. At present it is available at a price range of Rs 3.94 lakh and Rs 4.77 lakh.
The Vista and Indigo CS will be costlier by Rs 8,000 to Rs 11,000. While the Vista is currently priced between Rs 3.77 lakh and Rs 5.
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