The Hindu : Tata Motors to hike prices

Online edition of India's National Newspaper
Saturday, Dec 06, 2003

Business

Business

Tata Motors to hike prices

NEW DELHI DEC. 5. Tata Motors would announce a price hike in January, a top company official said today. "We will announce an increase in prices in January. The increased prices will be applicable from the next month onward," Tata Motors Vice-President (Commercial), Rajiv Dube said.

The impending price revision would be in the wake of rising input costs, he said adding increasing steel and rubber prices have been hurting manufacturers across the board. It may be mentioned that automakers such as Maruti and Ford have already announced the impending price rise citing the rise in input costs. Last week, Maruti said it would increase prices as spiralling inputs costs were putting pressure on margins while Ford Motor India said it remained under pressure throughout this year due to a sharp rise in material costs.

General Motors

General Motors India today said it would effect a price hike by next month. "We have decided to increase prices by 2-3 per cent in view of the spurt in input cost," GMI Vice President, P. Balendran, told PTI here.

The Corsa range of car would cost Rs. 8,000-10,000 more while Optra would be costlier by Rs. 15,000, he said. Prices of Forester and Vectra would remain unchanged, he said. — PTI

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