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Tata Motors to increase prices of its commercial vehicles from July

The hike will be across the range of commercial vehicles and the quantum will depend on individual model and variant, Tata Motors said in a regulatory filing.

June 28, 2022 / 03:18 PM IST
Tata Motors | Representative image

Tata Motors | Representative image

 
 
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Tata Motors on Tuesday said it will increase the prices of its commercial vehicles, in the range of 1.5 to 2.5 per cent, from July 1 to partially offset rising input costs.

The hike will be across the range of commercial vehicles and the quantum will depend on individual model and variant, Tata Motors said in a regulatory filing.

"While the company takes extensive measures to absorb a significant portion of the increased input costs at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," it said.

In April, Tata Motors had hiked the prices of its passenger vehicles by 1.1 per cent and those of commercial vehicles by 2 - 2.5 per cent to partially offset rising input costs.

Tata Motors' domestic commercial vehicle sales surged to 31,414 units in May against 9,371 units in the same period last year, whereas its total sales jumped nearly three folds in May to 76,210 units compared to 26,661 units in COVID-hit May 2021.

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As part of its ongoing effort to electrify its lineup, the auto giant launched the electric version of the well-liked Ace compact truck last month.

Part of the Tata group, Tata Motors Limited is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors’ vehicles are marketed in Africa, Middle

East, South & South East Asia, Australia, South America, Russia and other CIS countries.

(With PTI inputs)
Moneycontrol News
first published: Jun 28, 2022 03:01 pm
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