Tata Motors has announced a price increase with a weighted average increase of 1.2% across its ICE portfolio of passenger vehicles, w.e.f February 1, 2023.
A press release from the company noted that it has been absorbing a significant portion of the increased costs on account of regulatory changes and rise in overall input costs, hence passing on some portion through this hike.
Recently the company announced that its revenue in Q3FY23 has increased by 22.5% YoY to INR 88,489 crore across its vehicle brands.
Meanwhile, the PV business managed to grow its revenue by 37% YoY to INR 11,700 crore in the same period.
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