India's Tata Motors slashes hatchback, sedan prices

NEW DELHI, March 4 Mon Mar 4, 2013 6:46am EST

NEW DELHI, March 4 (Reuters) - India's Tata Motors said it has cut prices of its hatchbacks and sedans by 29,000-50,000 rupees ($530-$910), in a bid to lure customers to a market that is on course in the current fiscal year to post the first decline in annual sales in a decade.

Tata Motors, however, raised prices of its sport-utility vehicles (SUVs) -- the only bright spot in the Indian car market in recent months -- by up to 11,000 rupees, the spokeswoman, who declined to be identified by name, said.

The increase in prices of SUVs, after factory-gate taxes, will be as much as 35,000 rupees, she added.