While the companies are confident on their rolling portfolios, the rising input costs have come as a dampener: File photoMumbai: Automobile manufacturers have announced that they will hike vehicle prices, effective April 1, 2018 due to rising input costs.
According to Tata Motors, it will increase prices of its entire passenger vehicles range by up to Rs 60,000 due to rising input costs. The new prices will be effective from April 1, 2018.
"The rising input costs, changing market conditions and various external economic factors have compelled us to consider the price increase but we are optimistic on maintaining our growth trajectory in the coming year on the back of our robust product portfolio like Tiago, Hexa, Tigor and Nexon," said Mayank Pareek, president, passenger vehicle business, Tata Motors on Tuesday.
In addition, Nissan India also announced that prices of Nissan and of Datsun vehicles will be increased by up to 2 per cent across all available models.
Nissan currently offers the Micra, Sunny and the Terrano and Datsun offers the Datsun GO, GO+ and redi-GO in India.
"Due to rising input costs, we will be increasing the price of our Nissan and Datsun cars with effect from 1st April, 2018," said Nissan Motor India's managing director Jerome Saigot.
"We are confident that our cars will continue to offer excellent value and choice to our customers."
