New Delhi, Jul 16: Tata Motors will raise the prices of Nano by up to 4 percent, after it completes the delivery to first one lakh customers.
According to the sources increasing input costs, especially that of steel and other commodities like rubber, had forced the company to increase the price.
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 Rs 1.23 lakh to Rs 1.72.
However the company, did not specify when the new price will be effective from.
"Despite a steep increase in input prices, their (retainee-customers) Tata Nanos are being priced only 3-4percent higher, depending on the model, than the price announced at launch," said the company.
Nano is a four-passenger car by Tata Motors. It is the cheapest car in the world today.
However, Tata initially targeted the Nano as "the least expensive production car in the world," aiming for a starting price of 1,00,000 rupees, now it is increasing its prices day by day.