On an official press statement Tata Motors confirmed the hike in prices of the passenger vehicles from April 1, 2018. The rise up will lead up to Rs 60, 000 depending on the vehicle selection.
To the minimum scale range the GenX Nano was sold at the price of Rs 2.28 Lakh and SUV HEXA at maximum rate model of the Tata Motors with the price of Rs 17.42 Lakh.
The Vehicles in between these two ranges of the pricings including the above mentioned two will have a rise up in its price range, as the new marketing and financial conditions of the country are very demanding in the manufacturing costs of the passenger vehicles.
The increased Custom duty of the imported vehicles are also the main reason for some Companies like Audi rising up the price range to a considerable extent.
Marketing experts of Auto Industry mentions about the recent financial and economic policies of the Indian Government lead to a sudden decrease in buyers, as well as the increase in cost of manufacturing and taxing made the price variables to some more increase, in a circle leading to further decrease in buyers. Auto Companies are devising various discount options and attractive EMI enabling services to increase the buying rate of this year.