Tata Motors is in the spotlight this Tuesday! The car company just announced that starting January 2025, it will raise the prices of its cars, including electric ones, by up to 3%. This price hike is happening because many car makers are dealing with rising costs.
Tata Motors said they need to increase prices due to higher expenses for materials and inflation. They explained that rising global commodity prices, high import duties on raw materials, and problems in the supply chain are making it harder for them.
Famous for their small SUVs like the ‘Nexon’ and ‘Punch’, Tata Motors has already increased car prices twice this year. Many car manufacturers, including Maruti Suzuki, JSW MG Motor, and Hyundai Motor India, also announced they would raise their prices starting in January. Maruti Suzuki plans to add up to 4% to their prices, while JSW MG Motor will increase its prices by 3%. Hyundai will add up to Rs 25,000 to its cars. Even Kia, which sells popular models like Seltos and Sonet, will raise its prices by 2%.
On Monday, Tata Motors’ shares fell by 2%, closing at Rs 798 on the BSE. However, in the last year, their stock has gone up by 11%, and over the past five years, it has amazed investors with a whopping 352% return!
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