Tata to hike price of its vehicles in India
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Tata Motors, India's largest car manufacturer today said that it will hike the price of its vehicles as the government of India has increased excise duty to 10 percent. Earlier Government of India had cut down the excise duty rates to 8 percent to provide a stimulus package to Auto Industry which was struggling with low sales and credit crunch at that time. But now as Automobile Industry in India has recovered very much and registered a record sales growth in the starting month of this year, the government of India has increased the excise duty again.
Tata Motors Managing Director, India Operations, P M Telang told media that, Following the excise duty hike by the Finance Minister in the budget, we may hike prices by up to Rs 60,000 to Rs 70,000 for heavy vehicles and Rs 5,000-Rs 6,000 for smaller vehicles. he also added that any fiscal duty change by the government will be pass on to customers as price of steel and rubber has been increased by a good margin. Tata Motors recently showcased a range of its vehicles in Delhi auto show including Tata Aria, Tata Manza and Tata Nano. Company will possibly launch the Tata Aria model in the month of April this year.
Read More on : Tata Aria 2013
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