Home Four wheelers oi-Punith Bharadwaj By Punith Bharadwaj Updated: Saturday, January 23, 2021, 9:23 [IST] Tata Motors has announced a price hike of up to Rs 24,000 on its entire model range sold in the Indian market. The new prices have come into effect immediately across the country. However, the company has mentioned that booking made on or before January 21 will not be affected by the new price hike. Most automobile manufactures have announced a price hike of its products in the country. The decision to increase the pricing is because of the increase in input costs of raw materials required for manufacturing. Steel, which is a major component in the process of automotive manufacturing, has increased substantially in pricing over the past few months in the country. This is because of the rising domestic demand and iron ore prices, higher international prices and subdued production and limited imports. As a result, it could be among the key factors for automakers announcing a price hike on its entire model range. In addition to the increase in steel prices, the current crisis of semiconductors is also troubling automakers with the production of its vehicles in India. There is a major… Read full this story
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