New Delhi- Tata Motors on Friday said it will hike prices of its entire passenger vehicle range from January in order to offset the impact of rising input costs.
Similarly, luxury motorcycle brand Ducati said it will also hike prices across its product range from next month.
“Prices of commodities, raw material, and other input costs continue to rise. The company is compelled to increase prices of its passenger vehicles from January 2022 to offset the increasing cost pressures,” Tata Motors President Passenger Vehicles Business Unit (PVBU)Shailesh Chandra told PTI.
The company, which sells a range of models like Nexon and Harrier, however did not disclose the quantum of the intended price increase.
Ducati said an increase in price on all motorcycles will be effective on ex-showroom price from January 1, 2022.
The revised prices will come into effect across all models and variants of the vehicle, across the country and will be applicable on all nine official Ducati dealerships across India, it said in a statement.
“Ducati India strives hard to keep the prices of its motorcycle line-up extremely competitive in the India market. However, corresponding to the increment in material, production, and logistics costs, notwithstanding greater expenses of other natural substances, Ducati India is compelled to change the price of its models,” the company stated. (PTI)