BHEL shot up 4% after announcing plans to re-enter the defence business
MphasiS rose 4% on the back of a $15.5-million acquisition while Patni gained 2% after bagging...
The company said it has begun intimating customers, who had retained their booking but are not among first one lakh, that their cars are coming up for delivery albeit at higher prices
Tata Motors today said it will raise the prices of its small car Nano by up to 4% after it completes the delivery to first one lakh customers, reports PTI.
The company said it has begun intimating customers, who had retained their booking but are not among first one lakh, that their cars are coming up for delivery albeit at higher prices.
"Despite a steep increase in input prices, their (retainee-customers) Tata Nanos are being priced only 3%-4% higher, depending on the model, than the price announced at launch," the company said in a statement. The company, however, did not specify when the new price will be effective from.
Tata Motors had said that the first one lakh customers are price-protected and they would get their cars at the announced price range of Rs1.23 lakh-Rs1.72 (ex-showroom, Delhi).
Increasing input costs, especially that of steel and other commodities like rubber, had put pressure on margins.
The company said with its 2,50,000 units per year Sanand plant becoming operational ahead of schedule, the company will ramp up production of Tata Nano.
"This is the final step, before the company opens up sales of the Tata Nano," it added.
As the Sanand plant in Gujarat achieves optimum capacity output levels, the company has started intimating retainee customers that they can get the cars delivered immediately on completion of all the necessary formalities, a company spokesperson said.
As on June 2010, the company has delivered 45,219 of the one-lakh Nanos allotted in the first batch. The list of retainee-customers is another 55,000.