Tata Motors to increase commercial vehicle prices from July
What's the story
Tata Motors has announced a price hike of up to 2.5% for its commercial vehicles, effective July 1. The decision comes after a similar increase in passenger vehicle prices by the company. The move is aimed at offsetting rising input costs and will affect all domestic models and variants offered by Tata Motors.
Cost management
Price hike will vary across different models and variants
The commercial vehicle price hike will vary across different models and variants. Tata Motors said the move is aimed at partially offsetting higher commodity prices and other input costs. Last week, the company announced a similar price increase of up to 1.5% for its passenger vehicle range, including internal combustion engine (ICE) and electric vehicles (EVs).
Industry trend
Other automakers have also hiked prices recently
The latest price hike from Tata Motors comes as automakers continue to deal with high raw material costs. The company said the move is necessary to offset sustained increases in input costs. Other manufacturers in the passenger vehicle segment, including BMW India, Mercedes-Benz, Maruti Suzuki, Hyundai Motor India, and Nissan Motor India, have also hiked their prices recently due to similar reasons.