New Delhi, Dec 9
Tata Motors on Monday announced to hike prices by up to 3 per cent across its passenger vehicles (PVs) portfolio, including electric vehicles (EVs).
Effective from January, the price increase will vary depending on model and variant, and is being taken to partially offset the rise in input costs and inflation, said the automaker.
Kia India also announced up to 2 per cent price hike across its entire lineup, effective from January 1, “primarily due to rising commodity prices and escalating supply chain-related costs”.
“At Kia, we are committed to delivering exceptional, technologically advanced vehicles of the highest quality to our valued customers. However, due to the persistent rise in commodity prices, unfavourable exchange rates, and increased input costs, a necessary price adjustment has become unavoidable,” said Hardeep Singh Brar, senior vice president, sales and marketing, Kia India.
Despite these challenges, Kia is absorbing a significant portion of the cost increase, minimizing the financial impact on our customers, so they can continue enjoying their favourite Kia vehicles without major dent on their pockets, he added.