Tata Motors to increase prices of commercial vehicle
Tata Motors will increase the prices of its commercial vehicle (CV) range by up to 2 per cent from January to offset the impact of rising input costs.
The homegrown automaker added that while the price increase will vary according to individual models and variants, it will be applicable across the entire range of CVs.
Tata Motors pointed out that it has been absorbing a significant portion of the increased costs, but the steep rise in overall input prices has compelled it to pass on some proportion through a price hike.
Tata Motors is the country’s leading player in the commercial vehicle segment.
The company 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 the second phase of BS-VI emission norms, which kick in from April 2023.
In November, the company had effected a marginal price increase of 0.9 per cent across its passenger vehicles depending on the variant and model.
Apart from Tata Motors, Maruti Suzuki has said it will hike prices from January.
In April, Maruti had raised the prices of its hatchback Swift and CNG variants. In November, the company had marginally raised prices.