Mumbai : Automobile major Tata Motors on Thursday said it will increase prices of its entire passenger vehicles range by up to Rs 40,000 from January 1, 2019.

According to the company, the hike in price from next year is due to rising input costs and increase in fuel prices.

“The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase,” said Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors.

“We are optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio consisting of segment-leading products like Tiago, Hexa, Tigor and the Nexon. Early 2019 will also mark the entrance of our most awaited SUV — the Harrier.”

—IANS