Tata Motors to increase prices of commercial vehicles from Apr 1

Tata Motors announced on Tuesday said that it will increase prices of its commercial vehicles from April 1. The increase in price will be in the range of 2-2.5 per cent, depending on the individual model and variant. 

The company said that the increase in price comes due to increase in commodity prices. It added that it has initiated actions to absorb some of the increased costs but the overall prices will be passed on to the customers.

“The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited this price hike of commercial vehicles. While the company has initiated actions to absorb a significant portion of the increased costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimised price hike,” said the company in a statement.

This is the second price hike this year. In January, Tata Motors marginally increased the price of its passenger vehicles. Prices of PVs increased by 0.9 per cent from January 19. It added that along with this increase, it has also taken a reduction of up to Rs 10,000 on specific variants. Even then, the company had cited the increase in input costs for the price hike. 

Tata Motors is a $34-billion organisation and one of the country’s leading automobile manufacturers. It offers a range of cars, utility vehicles, pick-ups, trucks and buses. It has operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia with a global network of 103 subsidiaries, nine associate companies, four joint ventures and two joint operations as on March 31, 2021. It markets its vehicles in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.

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