The company attributed the increase in price is to “rising input costs.”
“The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase,” said Mayank Pareek, President, Passenger Vehicle Business, Tata Motors.
Pareek said he was not worried about the higher prices hitting the company’s growth prospects.
The price of the recently launched Nexon will also be increased by upto INR. 25,000.
“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 the recently launched NEXON,” he said.
Tata Motors is among the most affordable carmakers in India. It has hit modest success with recent car models like Tigor and Tiago.