Shock for TATA car buyers, all cars including Nexon, Punch and Safari will become expensive from February 1!
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Tata Motors has announced an average increase of 0.7 percent in the prices of all its passenger vehicles, including electric vehicles (EVs), from next month. According to the statement issued by Tata Motors, this price increase will be effective from February 1, 2024. The company is taking this step to partially compensate for the increase in production costs. The company sells a number of passenger vehicles including the Punch, Nexon and Harrier
increase in input costs
Tata Motors said that this increase is being done due to increase in input costs. Reasons for increase in input costs include increase in raw material prices, increase in labor costs and increase in transportation costs.
Because of this the price is increasing
According to Tata Motors, this increase will be applicable across all vehicle categories and models, including electric vehicles (EVs). The increase in raw material prices is a major factor increasing the cost of the vehicle. Raw materials include steel, aluminium, plastics and electronics. The prices of these materials have increased rapidly over the years. The increase in wage rates is another factor that is increasing the cost of the vehicle. Reasons for increases in labor costs include increases in wages, increases in social security benefits, and changes in labor laws.
increase in transportation costs
Increase in transportation cost is a third factor which is increasing the cost of the vehicle. Reasons for increase in transportation costs include increase in fuel prices, increase in transportation infrastructure costs and increase in geographical barriers.
Tata cars will become so expensive
The price of Tata Motors’ Nexon EV starts from Rs 12.7 lakh. After the price increase of 0.7%, its price will become Rs 12.8 lakh. This increase is around Rs 8890. The price of Harrier, another popular car from Tata Motors, starts at Rs 17.6 lakh. After the price increase of 0.7%, its price will become Rs 17.7 lakh. This increase is approximately Rs 12,320.
A big shock for consumers
The increase in vehicle cost will be a big blow to consumers. This will make purchasing a vehicle more expensive, making it difficult for people to meet their mobility needs.
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