New Delhi: Tata Motors on Monday announced to hike prices by up to 3 per cent across its passenger vehicles (PVs) portfolio, including electric vehicles (EVs).

Effective from January, the price increase will vary depending on model and variant, and is being taken to partially offset the rise in input costs and inflation, said the automaker. Kia India also announced up to 2 per cent price hike across its entire lineup, effective from January 1, “primarily due to rising commodity prices and escalating supply chain-related costs”.

“At Kia, we are committed to delivering exceptional, technologically advanced vehicles of the highest quality to our valued customers. However, due to the persistent rise in commodity prices, unfavourable exchange rates, and increased input costs, a necessary price adjustment has become unavoidable,” said Hardeep Singh Brar, senior vice president, sales and marketing, Kia India.

Despite these challenges, Kia is absorbing a significant portion of the cost increase, minimizing the financial impact on our customers, so they can continue enjoying their favourite Kia vehicles without major dent on their pockets, he added.

Kia has sold 1.6 million units in India and overseas markets combined to date. Its best-selling innovation, Seltos, has surpassed 670,000-unit sales, followed by Sonet with over 480,000 units, Carens with 214,400 units and Carnival with over 15,000 units.

Automakers like Maruti Suzuki India, Mahindra & Mahindra and Hyundai Motor India Limited (HMIL) have already announced price hikes for their SUVs, PVs and commercial vehicle (CV) range, effective from January.

Maruti Suzuki India has announced that it will hike the prices of its cars from January 1 by up to 4 per cent and it will vary depending on the models. Hyundai Motor India announced to increase prices owing to an increase in input costs and other factors. The price increase will be done across models, and the extent of increase will be up to Rs 25,000, said the automaker. (IANS)