Starting today, Tata Motors will increase the price of its passenger cars
According to Tata Motors, "the business has taken substantial measures to absorb large amount of the increased input prices."
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On July 9, the world's largest automaker Tata Motors announced a price increase for its passenger cars. Starting today, depending on the version and model, there will be a weighted average price rise of 0.55 percent across the board.
The business disclosed that rising input costs were a factor in their decision. "The business has made great efforts to absorb a sizeable percentage of the increasing input expenses. However, it is passing on a reduced price increase to counteract the remaining effects of the accumulated increase in input prices "In a statement, it was claimed.
In the meantime, Tata Motors reported on July 8 a tremendous 48 percent increase in global wholesales year over year for the first quarter of fiscal year 2022–23.
Including its flagship Jaguar Land Rover brand, the company's global wholesale of automobiles grew to 3,16,443 units over the three months ending June 30, 2022.
It should be emphasised that Tata Motors also intends to list publicly Tata Technologies, a company that provides worldwide product engineering and digital services. Additionally, bankers have been chosen for the IPO (IPO).
Since Tata Consultancy Services went public in 2004, this may be the Tata Group's first such offering.
