Tata Motors has said it will increase the prices of its small car Nano by up to 4% after completion of the delivery to initial 100,000 customers.
The company said it has started informing customers, who had kept their booking but did not figure among the initial 100,000, that their cars will be delivered although at higher prices.
The company statement said, “Despite a steep increase in input prices, their (retainee-customers) Tata Nanos are being priced only three-four per cent higher, depending on the model, than the price announced at launch”. But the company, did not specify the date from which the new price will be enforced.
Tata Motors had stated that the initial 100,000 customers are price-protected and their cars would be delivered at the stated price range of Rs 123,000-Rs 172,000 (ex-showroom, Delhi).
Rising costs of materials, particularly those of steel and other items like rubber, had pressurized the margins.
The company said with its Sanand plant becoming functional, it will raise manufacture of Tata Nano.
It said further, “This is the final step, before the company opens up sales of the Tata Nano“.
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Great information! I’ve been looking for something like this for a while now. Thanks!
We have booking and mutially agreed with the company so why the price is increased. Will the bank finance the diffrence amount ?