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Tata Motors on Friday effected a hike in prices of its passenger vehicle range.

According to the company, rising input and material costs of steel, precious metals and semi-conductors have compelled the company to pass on a part of the cost to customers.

"Tata Motors has marginally increased prices from 'Rs 0 to Rs 26,000', depending on the variant," the company said in a statement.

"Continuing its commitment towards customers, the company will also offer protection from the price increase to customers who have booked Tata passenger vehicles on or before 21st January."

The company's PV business has been witnessing strong demand for its 'New Forever' range of cars and SUVs and grew by 39 per cent in FY21 over FY20.

In Q3FY21, Tata Motors registered the highest ever sales in last 33 quarters.