Tata Motors, India's largest automobile company and leader in commercial vehicles across segments has announced that effective 8th May, it will increase prices of its passenger vehicles, averaging 1.8%, depending on the variant and model.

Continuing its commitment towards customers, Tata Motors will offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 7th May. For the wellbeing of its business and supporting ecosystem, the Company 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.

According to Shailesh Chandra, President - Passenger Vehicles Business, "Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products. Keeping in mind the interest of customers who have booked cars already, we are offering price protection for all bookings done till date (on or before 7th May 2021). This price increase will be effective for bookings made thereafter (effective 8 May 2021). Our 'New Forever' product range continues to witness strong acceptance in the market and we are thankful to our customers for their continued trust in the brand."

 Shares of the company gained Rs 0.55, or 0.18%, to trade at  Rs 301.70.  The total volume of shares traded  was  580,750 at the BSE (10.28 a.m., Friday).