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Big Blow to Customers! Tata Motors to hike prices of commercial vehicle by 2% from Jan
The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike, the company said in the press release.
Highlights
- Tata Motors to hike prices of its commercial vehicles by 2% from Jan.
- Increased production costs is given the main reason behind the price hike.
- Tata Motors is the country's leading player in the commercial vehicle segment.
New Delhi: Tata Motors on Tuesday said it will increase prices of its commercial vehicle range by up to 2 per cent from January to offset the impact of rising input costs. While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles, the auto major said in a statement.
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The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike, it added. Tata Motors is the country's leading player in the commercial vehicle segment.
The firm has already announced that it is looking to increase the prices of its passenger vehicles from next month to make its model range compliant with stricter emission norms, which kick in from April 2023.