Mumbai: Tata Motors has joined the long line of automakers who have announced a price hike for its India-spec models.
The company has said that it will increase the prices of its passenger cars by up to Rs 20,000 from January 2016.
The price hike has been attributed to external macro-economic factors.
"Due to the impact of various macro-economic factors, Tata Motors has decided to increase the prices of its passenger vehicles, with the maximum increase being up to Rs 20,000 on some models," the company said in a statement.
Tata currently sells models ranging from the entry-level Nano GenX to the multi-purpose vehicle Aria, priced between Rs 1.99 lakh and Rs 15.51 lakh (all prices, ex-showroom Delhi).
Most carmakers that have decided to hike prices across their range from January, have said that rising input cost and macro-economic factors are the reasons for the move.
At 1237 hours, the shares of Tata Motors were trading down 0.93% or Rs 3.45 at Rs 368.25 per scrip intraday on BSE.
