Tata Motors said on June 19 it will increase prices of its commercial vehicles by up to 2 percent, effective July 1.
The prices were hiked to offset the impact of rising commodity prices, the carmaker said in a stock regulatory filing on June 19.
The stock prices were trading at Rs 658.8, down 0.3 percent
The new prices will be applicable across the entire range of commercial vehicles, and will vary depending on individual model and variant, the company said in the statement.
The current hike will be the third increase in commercial vehicles prices in 2024 already. The automaker had hiked the prices in April by up to 2 percent to offset the "residual impact of past input prices". Before that, the prices were also hiked by up to 3 percent for the first time this year in January for commercial vehicles.
Moreover, the company, which sells cars including Punch, Nexon and Harrier, had also increased the prices for its entire passenger vehicle range, including EVs, by an average of 0.7 percent from February.
Meanwhile, moneycontrol reported last month that Tata Motors Ltd, which is separating its commercial vehicle (CV) and passenger vehicle (PV) businesses, is also considering an eventual merger of its electric vehicles business—a step-down subsidiary—with the PV unit after the demerger exercise concludes, people aware of the development said.
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