New Delhi: Tata cars are going to be expensive. Tata Motors has decided to increase the price of its vehicles from February 1. This increase has been done in petrol and diesel powered cars. The company says that due to the increase in the cost of raw materials, it has to increase the price of vehicles. Till now it was bearing this burden on its own but now under compulsion some part of it has to be passed on to the customers. Tata Motors has increased the prices of its vehicles by an average of 1.2 per cent. The hike varies from variant to variant and model to model.
Earlier, the country’s largest car company Maruti Suzuki also increased the price of its vehicles in the new year. The company had increased the prices of all its models by about 1.1 per cent. The company increased the price of vehicles for the second time in the current financial year. Earlier, he had increased the price of vehicles in April 2022. Maruti Suzuki had said in December last year that it would increase the prices of its vehicles to cushion the impact of rising costs. Along with this, the prices have also increased due to making the model compliant with the stricter emission norms that will come into effect from April 2023.
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profit for the first time in two years
Tata Motors released its December quarter results on Wednesday. The company has posted a quarterly profit for the first time in two years. The company has benefited from increased demand for passenger cars as well as medium and heavy commercial vehicles. The company’s net profit in the December quarter stood at Rs 2,957.71 crore. A year ago, the company had a loss of Rs 1516 crore in the same quarter, while the company’s loss in the previous quarter stood at Rs 944.61 crore. Despite the huge fall in the stock market, the company’s stock closed up 6.34 per cent.
