Mumbai: India’s most popular vehicle brand, Tata Motors has decided to hike the price of its commercial vehicles from July 1. The company will hike the price by 1.5% to 2.5% depending on the individual model and variant. The company said that the hikes have been necessitated due to increasing input costs in the manufacturing process.
This the third time Tata Motors has hiked prices for its commercial vehicle range this year. Earlier Tata Motors hiked the prices in January and April 2022. Bot times the prices were hiked by 2.5%.
Also Read: Forex Market: Indian rupee opens all-time low against UAE dirham
‘ While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike’, said Tata Motors in a statement.
Tata Motors offers a wide variety of commercial vehicles ranging from small load haulers such as the Tata Ace and Intra, the Yodha pick-up and a variety of intermediate, medium, and heavy commercial vehicles including tipper trucks, tractor-trailers and passenger transport models such as the Tata Winger and Magic up to diesel and electric buses. Tata Motors witnessed a 188% growth year-on-year in overall commercial vehicle sales in May 2022 and 6.4% growth in month on month.
Post Your Comments