Tata Motors hikes prices by Rs 12,000, stock hits 52-week high

Tata Motors stock today hit a 52-week high after the company said it has increased prices of its passenger vehicles, except small car Nano and premium crossover Aria, by up to Rs 12,000 to mitigate the impact of high input costs.

The company said the price hike has been effective from Wednesdau across the country.

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The stock hit a high of Rs 261.80 , which is also a 52-week high for the counter.

“The high input costs have been impacting us for quite some time. We have decided to pass on some burden to our customers. The quantum of the hike will vary between Rs 7,000 and Rs 12,000 depending on the model,” said a company spokesperson

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He, however, said this price increase exercise will not include Nano and Aria.

“The price hike has been effected since yesterday,” the spokesperson added.

Last month, other passenger vehicle majors Maruti Suzuki and General Motors increased the prices of their various models by up to Rs 17,000 to offset rising input costs and the impact of currency fluctuation.

Maruti Suzuki India (MSI) hiked prices of its vehicles, except for entry-level sedan DZire, by between 0.3 per cent and 3.4 per cent. This translated into a minimum increase of Rs 2,400 on the SX4 sedan and a maximum of Rs 17,000 on the diesel variant of its Swift hatchback.

Similarly, General Motors India also increased product prices by between 0.5 per cent and 1.75 per cent for models including the Spark, Beat, Cruze and Tavera, translating into an increase ranging from Rs 3,000 to Rs 15,000.

GM India, however, left the prices of its Aveo, Aveo UVA, Optra and Captiva SUV models unchanged.

Toyota Kirloskar Motor had also hiked the prices of its different models, including the Liva and Etios, between 0.75 per cent and 3 per cent from January 1 onward.

Mahindra & Mahindra increased the price of its latest SUV, the XUV500, by up to Rs 55,000.

Agencies