Mumbai: Leading automobile manufacturer in the country, Tata Motors has decided to increase the prices of its commercial vehicles from July 1. The prices will go up by 2%. The company said that the hikes have been necessitated due to increasing input costs in the manufacturing process and to counterbalance the effects of rising commodity prices.
The new pricing will be implemented across the entire commercial vehicle range, with variations depending on the specific model and variant.
Tata Motors is an automobile manufacturer in India that manufactures both commercial and passenger vehicles. The company is among the top three in the passenger vehicles market in the country.
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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.
Recently, Tata Motors reported a total of 29,691 commercial vehicle sales in May, marking a 2 per cent increase compared to the same month the previous year. Overall truck sales reached 12,402 units. However, within this category, the sales of Heavy Commercial Vehicles (HCVs) experienced a slight decline. HCV sales fell by 3 per cent, dropping from 8,160 units in May 2023 to 7,924 units in May 2024. The Intermediate Light Medium Commercial Vehicle (ILMCV) segment sales surged by 30 per cent, rising from 3,450 units in May 2023 to 4,478 units in May 2024.
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