Additionally, Tata Motors has assured that customers who have made bookings before July 16, 2023, and those who will receive deliveries before July 31, 2023, will be protected from the price increase.
Price Increases on Tata Motors Passenger Vehicles
Tata Motors has recently announced that it will implement price increases on its passenger vehicles starting from July 17, 2023. The company states that the average price hike across models and variants for both internal combustion engine (ICE) vehicles and electric vehicles (EVs) will be around 0.6 percent.
This adjustment is being made to counterbalance the residual impact of previous input costs, according to the official statement.
Wide Selection of Tata Motors
Tata Motors presents a wide selection of passenger vehicles in India, featuring well-received models like the Tata Nexon, Punch, Altroz, Harrier, Safari, Tiago, and Tigor.
Sales Figures and Growth in Q1 FY24
In other news, Tata Motors has reported its sales figures for Q1 FY24, with a total of 226,245 vehicles sold. The company's domestic sales of passenger vehicles experienced a year-on-year growth of 5 percent, with 47,235 units sold in June 2023, compared to 45,197 units in the same period last year.
The electric vehicle segment witnessed a significant growth of 105 percent in Q1 FY24, with 19,346 units sold.
Expansion of Tata Motors' CNG Vehicle Portfolio
Furthermore, Tata Motors is actively expanding its compressed natural gas (CNG) vehicle portfolio nationwide. The company recently introduced the Altroz iCNG, starting at a price of Rs 7.55 lakh (ex-showroom).
Notably, one of their hatchback offerings is equipped with a 1.2-liter Revotron engine, capable of delivering an impressive peak power of 73 hp at 6,000 rpm and a maximum torque of 103 Nm at 3,500 rpm. It features twin-cylinders placed under the boot space and has a direct start in CNG model.