Tata Motors has announced that it will increase the prices of its passenger cars and commercial vehicles with immediate effect. The price hike will be proportionate to the increase in the corresponding excise duty announced in the Union Budget today.
The excise duty for small cars has been hiked from 10% to 12%. Small car buyers will have to shell out an additional 2% excise duty. This translates to a 2% hike in the range of Rs. 2,800 – Rs. 3,920 for the Tata Nano, Rs. 7,200 – Rs. 9,920 for the Tata Indica eV2, Rs. 9,260 – Rs. 11,960 for the Tata Indigo eCS, Rs.8,840 – Rs. 12,520 for the Tata Vista and Rs. 9,580 – Rs. 10,580 for the Tata Venture. The excise duty for large cars with engine capacity less than 1.5-litres has been hiked from 22% to 24%. This translates to a 2% price increase of Rs. 11,080 – Rs. 15,660 for the Tata Manza sedan.
For large cars with engine capacities of more than 1.5-litre such as the Tata Sumo, the excise duty has been hiked from 22% to 27%. This translates to a 5% hike in the range of Rs. 27,700 – Rs. 34,000 for the Tata Sumo Gold, Rs. 37,550 – Rs. 42,950 for the Tata Grande, Rs. 39,700 – Rs. 64,200 for the Tata Safari and Rs. 57,540 – Rs. 73,350 for the Tata Aria.
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* Price hike is estimated based on the Union Budget excise duty hike