Tata Motors has hiked the price of its recently launched hatchback Tiago in the range of Rs 5,000 to Rs 6,000 as the introductory pricing period ended this month.
The Mumbai-based auto major had launched the compact model in April, priced between Rs 3.2 lakh and Rs 5.6 lakh (ex-showroom Delhi).
When contacted, a Tata Motors spokesperson told PTI: "Yes, there is a marginal increase in Tiago prices. As you must be aware that we launched the Tiago with an introductory pricing, which usually is offered for around three months but we have extended to five months for our customers." The Tiago, which was officially named Zica, had to be renamed following the mosquito-born disease of similar name.
The car comes on a completely new platform (new Revotron 1.2-L petrol engine and the first 1.05-L Revotorq diesel engine).
The company has added a second shift at its Sanand-based manufacturing facility to ramp up the production to reduce the long waiting period for the car.
"The response to the car has been very good and we have ramped-up production to meet the growing demand," the spokesperson said.
The company has over 30,000 bookings for the hatchback.
Earlier this month, Maruti Suzuki India had hiked prices of its various models by up to Rs 20,000. Hyundai Motor India had also hiked prices by up to Rs 20,000 across models from August 16, to offset rising input costs and impact of rupee depreciation.
On the other hand, Ford India has slashed prices of select variants of its compact sedan Ford Aspire and Figo hatchback by up to Rs 91,000 to increase sales.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
