Companies

Tata Motors to hike prices of CVs

Our Bureau | | Updated on: Dec 06, 2021
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Price hike to be effective from January

 

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.

Published on December 06, 2021

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