Days after Tata Motors Ltd., BMW Group India and Audi India hiked prices, Tata Motors Passenger Vehicles Ltd. has also announced a price increase for its passenger vehicle portfolio effective April 1.
The company in an exchange filing said that the revision is being undertaken to partially offset the continued increase in input costs. It further added that the weighted average price hike will be 0.5% of ICE portfolio and the extent will differ across models and variants.
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Tata Motors hiked prices of its commercial vehicles by 1.5%. BMW Group India on Thursday said it will increase vehicle prices by up to 2% across its vehicle range in order to offset the impact of escalating logistics, material costs and depreciating rupee.
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Mercedes-Benz India and Audi India have already announced to increase vehicle prices from next month.
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This comes after HSBC revised target price over negative outlook for Jaguar Land Rover and Middle East exposure. The 12-month target price has been revised to Rs 340 from Rs 400, with rating maintained at 'hold'. The new target implies a return potential of 8% over the previous close.
Analysts said JLR's weak performance overshadows growth in the India business. The Middle East exposure, which contributes nearly 5-6% of JLR volumes, and rising raw material costs have further added to the woes. The premium unit's recovery in the near term appears "challenging", they said in a note.
According to HSBC, it is unlikely that JLR will be able to sell more than 35,000 units per month over the foreseeable future, given subdued China luxury car market, tariff increases in the US and competitive pressure.
For fiscal year 2026, analysts forecast JLR will suffer negative free cash flow due to tepid volumes and ongoing capex.
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