Tata Motors has said it has cut prices of its hatchbacks and sedans by Rs. 29,000 to Rs. 50,000 ($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 country's car market in recent months – by up to Rs. 11,000, 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 Rs. 35,000, she added.