Tata Drives said on Monday that prices for all its passenger vehicles, including those with internal combustion engines (ICE) and those with electric drives, would go up. On July 17, all models and variations will likely increase their prices by 0.6%. According to the company, this rise was necessary because of the effects of changes in input costs from the past. The Indian carmaker says that customers who reserve their cars by July 16 and get them by July 31 will not have to pay the price hike that is coming soon. Also, Tata Motors recently released its May sales numbers, which showed that local sales went up 1% yearly. In May, they sold 80,383 units, up from 79,606 the year before. Domestic sales of passenger cars, including electric vehicles, increased by 5% in May, from 45,197 units in May last year to 47,235 units in May. Tata Motors had its best quarterly sales ever, with 19,346 units sold. This was a big step for the company in the market for electric vehicles. This is a massive rise of 105% compared to the first quarter of the last fiscal year (FY23). In the second half of the current fiscal quarter (Q2FY24), the company expects strong demand for its passenger cars to continue as the holidays get closer. According to its FY23 annual report, the automaker is now India’s second-largest maker of passenger vehicles, behind market leader Maruti Suzuki. This is due to the success of its aggressive growth strategy, which focused on targeted micro-markets to gain market share. Tata Motors wants to improve its operations by making it easier to make more cars. This is to meet growing demand. The Ford plant in Sanand, Gujarat, can produce 300,000 vehicles per year; over time, that number will grow to 420,000. “Niche-focused profit growth worked…” We were India’s second-largest OEM with 1,410 stores at year’s end. In FY23, we opened 227 more stores. Our sellers make $ 99, up from 43 out of 100 times in FY20. “In FY23, we added 150 workshops to our service network, totaling 855.” We focused on sales and uncovered considerable industrial volumes in tiny rural and urban marketplaces utilizing subtle tactics. The company says we will also focus on selling more EVs and CNGs. In FY24, it will also increase its ability to sell and provide service. For the second year, we have been the best SUV company. For FY23, the company made Rs. 47,900 crore in sales. There will be both single-tone and two-tone color options for the Honda Elevate. Some colors offered are Meteoroid Gray Metallic, Obsidian Blue Pearl, Radiant Red Metallic, Platinum White Pearl, Golden Brown Metallic, and Phoenix Orange Pearl (New Color).
