BENGALURU, July 3 (Reuters) – Indian car maker Tata Motors (TAMO.NS) said on Monday it will increase prices of its passenger vehicles by an average 0.6% across models and variants from July 17.
The price hike is meant to offset the residual impact of past input costs, the company said in a statement.
The company’s total expenses for the quarter that ended March 31 climbed nearly 30% from a year earlier on an increase in the cost of materials consumed.
Vehicle prices across segments have increased in India after the government mandated automakers to fit them with a device to monitor emissions, sparking an increase in cost.
Reporting by Varun Vyas in Bengaluru; Editing by Nivedita Bhattacharjee and Dhanya Ann Thoppil
Our Standards: The Thomson Reuters Trust Principles.