The beginning of every year is marked by brands bumping up the cost of their cars. Tata is not far behind in this race and most recently, the brand has announced a price hike. As always, the increasing input costs are blamed for this increase and the ongoing chip shortage is only making it worse. Tata Motors has announced a marginal price hike on its passenger vehicles and buyers should be ready to see an average increase of 0.9 percent depending upon the variant and model, effective January 19, 2022.
At the same time, the Company has also taken a reduction of up to Rs 10,000 on specific variants, in response to feedback from customers. The company claims that it is absorbing a significant portion of the increased costs, the steep rise in overall input costs has compelled it to pass on some proportion through this so-called minimal price hike. The only positive attribute that comes along with this hike is the fact that the company has decided to offer price protection to all its customers. It Assures no impact on Tata cars booked on or before January 18, 2022.
Tata Sales and EVs
Last year brought many laurels for Tata Motors, and in December the brand even became the Number 2 top-selling brand of the month by defeating Hyundai. Even though none of the auto brands could manufacture at full capacity, Tata registered a 49.92 percent YoY Growth. Tata’s sales in the domestic and international market for Q3 FY22 stood at 1,99,633 units as compared to 1,58,218 units during Q3 FY21 which adds up to be a 26 percent growth. While the brand did report an overall growth in all vehicle categories, the EV category registered bonkers growth rates. The brand sold 2,255 EVs in December 2022 as compared to 418 EVs in December 2021 these figures result in a 439 percent YoY growth. At the same time, the brand registered a 345 percent YoY growth in Q3 FY22.
Future Plans
Most recently, Tata has released the much-awaited, Safari Dark Edition and the car is bound to gain some traction. Next up, the brand has a new CNG lineup planned with the Tiago and Tigor CNG. The Punch CNG variant has also been spied testing alongside Tigor and Tiago CNG variants and it could make its arrival soon. The new EV subsidiary called ‘Tata Passenger Electric Mobility’ or ‘TPEML’ could mean that we will get to see some new electric offerings from the brand.