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Tata Motors increases passenger vehicle prices and offers price protection. The brand has announced that effective 3rd August, it will increase the prices of its passenger vehicles, on an average of 0.8%, depending on the variant and model.
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The company is also said to offer protection from the price increase to vehicles that will be retailed on or before 31st August’21. For the wellbeing of its business and supporting ecosystem, Tata Motors had recently announced that it has set in motion a comprehensive ‘Business Agility Plan’ to protect and serve the interests of its customers, dealers, and suppliers.
One thing to note is that the price protection is applicable only on vehicles retailed/ billed on or before 31st August 2021.
Furthermore, the brand had noted that it is looking to increase the prices of its entire range of passenger vehicles to offset the steep rise in procurement cost of essential materials like steel and precious metals. The financial impact of the increase in commodity prices is in the range of 8-8.5 percent on the company’s revenues in the past year. Prices of precious metals like rhodium and palladium have gone up significantly over the last year.
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