Tata Motors is likely to increase the prices of vehicles from next month as its model range becomes compliant with the stricter emission norms that will come into effect from April 1. This comes days after Maruti Suzuki said that it will increase the prices of its vehicles from January. Citing inflation and regulatory requirements.
Tata Motors Managing Director – Passenger Vehicles & Electric Vehicles, Shailesh Chandra said the price hike will offset the impact of commodity prices. “The regulatory change will have a cost impact. Even the real impact of softening commodity prices is going to come from the next quarter itself and we still have the residual effect of commodity growth that we have seen during the year,” Chandra told news agency PTI. Told.
Chandra said that the prices of batter have also increased, but this has not been passed on to the market. He said that as far as commodity prices are concerned, they are evaluating the price hike on the basis of residual effect. Chandra said battery prices and new regulations have had an impact on the EV side as well. There is also a cost involved in making the model range compliant with the new emission norms, he said.
“We are looking forward to a possible price hike for both ICEs and EVs next month due to these factors,” Chandra said.
From April 1, 2023, vehicles will be required to have on-board self-diagnosis equipment to monitor real-time emission levels. If the emission parameters are exceeded, the instrument will indicate by means of warning lights that the vehicle should be presented for service. The vehicles will also have programmed fuel injectors that will control the timing and amount of fuel injected into the petrol engine to control the level of fuel burn. Semiconductors will also need an upgrade.
Tata Motors includes vehicles like Punch, Harrier. Safari, Nexon, as well as the Tiago EV and Nexon EV.
(with agency inputs)
Read also: Maruti Suzuki plans to increase car prices from January 2023, cites inflation
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