Tata Motors to hike price of its commercial vehicle range from January

One of the largest automakers in the country, Tata Motors on Monday stated that it is going to increase the price of its commercial vehicle range from 1 January, 2022. An increase in price in the range of 2.5 per cent will be implemented across segments – M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle, the automaker said in a statement. 

Tata Motors further stated that the hike in the prices of its commercial vehicle range is due to increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials. 

"While the company is absorbing 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 minimal price hike," Tata Motors further stated. 

Other automakers such as Maruti Suzuki, Audi and Mercedes-Benz have already announced to increase vehicle prices from next month.

Meanwhile, Tata Motors earlier said its total sales increased by 25 percent to 62,192 units in November as compared to the same month last year.

The company had dispatched 49,650 units in November 2020.

The automaker posted a 21 percent increase in its domestic wholesales at 58,073 as compared with 47,859 units in the year-ago period.

The auto major said its passenger vehicle sales in the domestic market stood at 29,778 units in November, as compared to 21,641 units in the same month last year.

Commercial vehicle sales in the domestic market stood at 32,245 units, up 15 percent from 27,982 units in November 2020, it added.