Tata Motors on Friday said 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 5.84 lakh, Indigo CS sedan is available for Rs 4.29 lakh to Rs 5.33 lakh.
From April 1, the company's sedan Manza will by dearer by Rs 10,000 to Rs 15,000. At present it costs between Rs 5.9 lakh and Rs 7.51 lakh.
The Nano price will, however, not be revised. In the utility vehicles segment, Tata Motos said depending upon the model, Sumo prices will go up by Rs 13,000-15,000.
The vehicle is available for Rs 4.95 lakh to Rs 7.62 lakh currently. The Grande, which is priced between Rs 5.80 and Rs 7.79 lakh at present, will become costlier by Rs 16,000 to Rs 19,000.
The Safari will be dearer by Rs 18,000 to Rs 29,000. It is available at a range of Rs 7.86 lakh to Rs 11.41 lakh.
Tata Motors' crossover vehicle Aria will become costlier by Rs 30,000 to Rs 36,000 from April 1.
It is currently priced between Rs 12.9 lakh and Rs 15.5 lakh. All the prices are in ex-showroom Delhi. Maruti Suzuki India (MSI) said it is also considering increasing the prices of its products.
"There is pressure on our bottomline due to the rising input costs. At the moment we are working out but we have not finalised anything," MSI Managing Executive Officer (Marketing & Sales) Mayank Pareek said.
Similarly, a Hyundai Motor India Limited (HMIL) spokesperson said: "We are also considering a price hike but we have not finalised."
On Monday, Honda Siel Cars India had said it would hike the prices of all its products, except luxury sedan Accord, by 2-3 per cent with effect from April 1, on account of rising input costs.
"Commodity prices are rising very strongly in recent months. We will raise the prices of all our cars by 2-3 per cent from next month to minimise the impact of strengthening raw material rates," an HSCI spokesperson had said.
