Tata Motors has announced that it will increase the prices of its commercial vehicles from 1.5 per cent to 2.5 per cent with effect from July 1, 2022. The amount of enhancement will vary depending on the individual model and variant. This is the third time that Tata Motors has hiked prices for its commercial vehicle range this year with the previous hike in prices in January and April 2022 – by 2.5 per cent both times. Tata says the hike has been necessitated due to rising input costs in the manufacturing process.
The Tata Motors CV range includes everything from small load haulers like the Ace to heavy commercial vehicles and buses.
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The company said in a statement, “While the company takes comprehensive measures to absorb a significant portion of the increased input costs at various levels of manufacturing, the sharp increase in the overall input cost will allow the residual ratio to pass through to a minimum. It becomes inevitable. Price hike.”
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Tata Motors offers a wide variety of intermediate, medium and heavy commercial vehicles of various types including small load haulers such as Tata Ace and Intra, Yodha pick-up and tipper trucks, tractor-trailers and more. Tata’s commercial vehicle arm also offers a range of passenger transport models such as diesel and electric buses, up to the Tata Winger and Magic. Earlier in the month the company reported that it has seen an overall growth of 188 percent year-on-year Commercial vehicle sales in May 2022 However, the month-on-month figures have projected a flat growth of around 6.4 per cent.
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