Comments
Tata Motors has announced an increase in price in the range for 2.5 per cent on its commercial vehicles. The price hike will come into effect from January 1, 2022 and will be across segments.
medium to heavy segment, small commercial vehicle segment, intermediate and light segment and the bus segment and will be on the basis of individual models and variants.
The increase in prices of commodities such as steel and aluminium, and other raw materials, has incited the price hike. “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 residual proportion via a minimal price hike” said the press release.
The hike will be the fourth this financial year. The Mumbai-based commercial vehicle segment market leader had hiked prices in April, September and October to offset pressure on margins due to rising commodity costs. Other automakers have also announced price increases recently.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.