Tata Motors’ range includes vehicles such as the Tiago, Tigor, Nexon, Altroz, and Harrier. The company’s decision to raise the price of raw materials was most likely motivated by increasing raw material costs.
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‘We have witnessed a significant rise in the price of steel and other precious metals in the past year,’ added Chandra. The rise in commodity prices over the past year has had a financial effect of 8 to 8.5 percent on our revenues.
took many additional steps
He said that the business has already taken many additional steps to mitigate the effect of increasing expenses so that consumers are not overburdened. “However, the gap persisted owing to high costs of basic commodities,” Chandra said. As a result, we are compelled to raise the price.
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