The country’s largest commercial vehicle manufacturer Tata Motors, on Tuesday, announced an increase in the prices of its commercial vehicles in the range of 1.5-2.5 per cent from July 1, 2022.
Tata Motors on Tuesday said it will increase the prices of its commercial vehicles, in the range of 1.5 to 2.5 percent, from July 1 to partially offset rising input costs.
The hike will be across the range of commercial vehicles and the quantum will depend on individual models and variants, Tata Motors said in a regulatory filing.
“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 minimized price hike,” it said.
In April, Tata Motors had hiked the prices of its passenger vehicles by 1.1 percent and those of commercial vehicles by 2 – 2.5 percent to partially offset rising input costs.
Tata Motors Limited is an Indian multinational automotive manufacturing company, headquartered in the city of Mumbai, India which is part of Tata Group. The company produces passenger cars, trucks, vans, coaches, buses, luxury cars, sports cars, and construction equipment. Formerly known as Tata Engineering and Locomotive Company (TELCO), the company was founded in 1945 as a manufacturer of locomotives.
