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September 2021
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News Headlines
Former TT champ Martin to retire after world championships        Gill, Rana are about to shock the world: KKR chief mentor Hussey        Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025        Small cars too need adequate number of airbags to ensure safety, says Gadkari        Taliban-run Kabul municipality to female workers: Stay home        Nepal observes Constitution Day; PM Deuba vows to protect, implement statute        Adityanath releases report card; says UP has seen complete transformation under BJP rule        BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba        Charanjit Singh Channi to be next CM of Punjab        Boxing: Mohammad Hussamuddin sails into QF        Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana        Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students        Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh        Schools in Kerala to reopen from Nov 1        Amarinder Singh resigns as Punjab CM, says will not accept Sidhu for top post        Sachin stuns World Championships medallist Gaurav Bidhuri        Sensex, Nifty snap winning streak, end in red        Rahul attacks BJP govt over unemployment issue        International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi        Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs        
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Business News
Tata Motors plans to hike passenger vehicle prices from next week
 
New Delhi, Jul 28 (PTI) Tata Motors is looking to increase prices of its entire range of passenger vehicles from next week as it aims to offset the steep rise in procurement cost of essential materials like steel and precious metals, as per a top company official.

The Mumbai-based auto major sells a range of passenger vehicles like Tiago, Nexon, Harrier and Safari in the domestic market.

"We have seen a very steep increase in the prices of steel and precious metals over the last one year. The financial impact of the increase in commodity prices is in the range of 8-8.5 per cent of our revenues in the past one year," Tata Motors President Passenger Vehicles Business Unit (PVBU)Shailesh Chandra told PTI.

He noted that the company has been able to pass on only a small part of the increase in input costs to the customers so far.

"From the company realisation perspective, we have passed on only 2.5 per cent. From an ex-showroom perspective this would be around 3 per cent, so there is a big gap to the extent of increase that has happened (in the input costs) and what we have been able to pass on to the market," Chandra said.

He noted that the company has been able to mitigate some of the impact of rising input costs by running various cost reduction initiatives as it wanted to avoid passing on a big quantum of price hike to customers.

"But with the gap still remaining and the prices of essential commodities still remaining high, we are now forced to take a price hike from next week," Chandra noted.

He added that the company is currently in the process of working out the details of the increase in each model/trim.

Prices of precious metals like rhodium and palladium have gone up significantly over the last one year. Steel prices have also remained high during the period.

Earlier this month, the country's largest carmaker Maruti Suzuki India hiked prices of hatchback Swift and CNG variants of other models by up to Rs 15,000 to counter increase in input costs.

Similarly, Honda has also announced to increase prices of its entire model range in India from August, as it looks to offset the impact increase in commodity prices.


Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025
Small cars too need adequate number of airbags to ensure safety, says Gadkari
Leading garment exporter Kitex Group to invest Rs 2,400 cr in Telangana
Sensex, Nifty snap winning streak, end in red
Bringing diesel, petrol in GST may be discussed in Council meeting, also on agenda is taxing Swiggy, Zomato
PepsiCo set up food plant in Mathura
Without GST documents Arecanut transporting vehicles seized
Wipro and First Horizon Bank forge a cloud-based fintech future for virtualBank
Mahindra XUV700 makes a pitstop in Bengaluru
India's industrial production grew 11.5 per cent in July on low base, recovery
FADA expresses shock over Ford India's announcement to stop manufacturing vehicles in India
FICCI, PHDCCI welcome PLI for textile sector
Domestic air passenger traffic up 31% at 66 lakh in Aug on higher capacity deployment: ICRA
Jio completes 5 yrs of operations; tech world congratulates
Hero MotoCorp and Harley-Davidson expand customer touch points, open bookings for next lot of ‘Pan America 1250’ adventure bike
Rupee inches 3 paise higher to 73.03 against US dollar in early trade
HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore
M Suresh takes over as Member (Air Navigation Services) at AAI
Tata Motors launches Tigor EV with price starting at Rs 11.99 lakh
Google removes 95,680 content pieces in July in India: Compliance report
KERALA NEWS
Schools in Kerala to reopen from Nov 1
 Thiruvananthapuram, Schools in Kerala will be reopened from November 1, Chief Minister Pinarayi Vija  
Kerala to allot 36.84 acres land to TCS, aims to create 10,000 jobs
PDP leader Poonthura Siraj passes away
Rajya Sabha MP Suresh Gopi courts controversy
INTERNATIONAL NEWS
Taliban-run Kabul municipality to female workers: Stay home
 Kabul, Sep 19 (AP) Female employees in the Kabul city government have been told to stay home, with w
Nepal observes Constitution Day; PM Deuba vows to protect, implement statute
Taliban continue restrictive policies on women's education, resume secondary school lessons only for male students
International community must think carefully, consult before giving acceptance to new Kabul regime: PM Modi
NATIONAL NEWS
Adityanath releases report card; says UP has seen complete transformation under BJP rule
 Lucknow, Sep 19 (PTI) Asserting that Uttar Pradesh has undergone a complete transformation under his
BJP uses Taliban, Afghanistan, Pakistan to garner votes: Mehbooba
Sidhu is a 'friend of Pakistan', will oppose if he is appointed CM: Amarinder Singh
Rahul attacks BJP govt over unemployment issue
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