Tata Motors said on Wednesday high input cost is making it 'challenging' for the company to maintain price of its people's car at Rs 1-lakh level.
"Higher input cost has made it more challenging to maintain price at the Rs one-lakh level, but whether we will launch the car at a higher price or not, will be evident only when we introduce the product," Tata Motors Managing Director Ravi Kant said on the sidelines of SIAM Annual Conference.
He said the Rs 1-lakh car is expected to be launched as per schedule in the middle of next year.
On the sales front, Kant said the company's sales have been hit primarily by two reasons: high interest rate in the domestic market and rupee appreciation.
"It's a double whammy for us. On one hand, high interest rates are pulling down domestic demand on the other rupee appreciation has hit exports. In business, you need certainty, and thus interest rates needs to be stabilised," Kant added.
The company will soon introduce upgraded variants of its Indica and Indigo set of vehicles.
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