Tata Motors will increase the prices of its entire commercial vehicle range with effect from January 1, 2022. The company has said that the price hike will be in the range of 2.5 per cent, and the revised prices will be applicable on an individual model basis across all segments. and variants of the vehicle.
see photosTata Motors has said that the price hike will be in the range of 2.5 per cent
Tata Motors has announced its plan to increase the price of its entire Commercial Vehicle (CV) range in India with effect from January 1, 2022. The company has said that the price hike will be in the range of 2.5 per cent depending on the model, and the revised prices will be applicable across all commercial vehicle segments, individual models and variants of the vehicle. Tata Motors is currently the largest commercial vehicle manufacturer in India and offers vehicles in medium and heavy commercial vehicles (M&HCVs), intermediate and light commercial vehicles (I&LCVs), small commercial vehicles (SCVs) and buses.
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Tata Motors said the increase in prices was mainly due to increase in prices of commodities like steel, aluminum and other precious metals besides higher cost of raw materials.
In his official communication, Tata Motors Ltd. has said that the price rise is mainly due to increase in the prices of commodities like steel, aluminum and other precious metals, besides higher cost of other raw materials driven this price rise to commercial vehicles. The automaker has said that while the company is absorbing a significant portion of the increased material costs at various stages of manufacturing, “the sharp increase in total input costs has made it imperative to pass on some residual ratio through minimum price increases”. .
Read also: Maruti Suzuki will increase the prices of vehicles from January 2022
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Tata Motors is not the first original equipment manufacturer (OEM) to announce a price hike from January 2022. As of now, other OEMs like Maruti Suzuki India, Mercedes-Benz India, And Audi IndiaLtd. has also announced that they will increase the prices of vehicles from January 2022 due to rising cost of raw material. While currently, only the CV business of Tata Motors has announced a price hike, we expect the passenger vehicle business to announce a price hike soon.
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