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Home / Business / Tata Motors to increase prices of commercial vehicles from January

Tata Motors to increase prices of commercial vehicles from January

Earlier this month, Maruti Suzuki had announced that it will hike prices because of an increase in various input costs
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Our Special Correspondent   |   Calcutta   |   Published 07.12.21, 02:07 AM

Tata Motors on Monday said it would raise the prices of its commercial vehicles  by around 2.5 per cent from January 1.

The hike will cut across all segments — medium and heavy commercial vehicles (M&HCV), intermediary and light commercial vehicle (I&LCV), small commercial vehicle (SCV) and bus.

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The company cited an increase in the prices of commodities such as steel, aluminium and other precious metals in addition to higher costs of other raw materials as the reason for the price hike in commercial vehicles . 

While the company is absorbing a significant portion of the increased costs at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some  of the burden to consumers.

Earlier this month, Maruti Suzuki had announced that it will increase prices in January because of an increase in various input costs. 

The company said the price hike shall vary for different models. Honda and Renault are also looking to increase vehicle prices from January next year to offset the impact of rising input costs.

Luxury car maker Mercedes Benz has announced a price hike of up to 2 per cent across select models from next year. Audi said its price increase effective January 1 will be up to 3 per cent across its entire model range.

Tata Motors’ total sales increased by 25 per cent in November compared with the same month last year. 

The auto maker posted a 21 per cent increase in its domestic wholesales at 58,073 units compared with 47,859 units in the year-ago period.

The auto major said its passenger vehicle sales in the domestic market stood at 29,778 units in November, as compared to 21,641 units in the same month last year.



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