Tata Motors to hike commercial vehicle prices by up to 2.5 pc from July
Mumbai, June 18
Leading automobile firm Tata Motors on Thursday announced a price increase of up to 2.5 per cent across its commercial vehicle range, with the revised prices set to take effect from July 1.
The company said the price hike is being undertaken to partially offset the impact of rising commodity prices and other input costs.
According to Tata Motors, the extent of the increase will vary depending on the model and variant.
"The price increase is being undertaken to partially offset the impact of rising commodity prices and other input costs," the company said in a statement.
Earlier this month, Tata Motors Passenger Vehicles (TMPV) announced a price increase of up to 1.5 per cent across its passenger vehicle portfolio, including internal combustion engine (ICE) and electric vehicle (EV) models, effective next month.
The company had then said the increase was aimed at partially offsetting the impact of rising input costs and continued inflationary pressures, while continuing to absorb a significant portion of the cost escalation internally.
Automobile manufacturers have increasingly resorted to calibrated price hikes in recent months to protect margins amid fluctuations in raw material prices and higher operational expenses.
Last month, Hyundai Motor India announced a price increase of up to Rs 12,800 across its model range, citing higher commodity prices, rising input costs and elevated operating expenses.
Similarly, Maruti Suzuki India revised prices across several models earlier this year to mitigate the impact of rising production costs.
Shares of Tata Motors Commercial Vehicles (TMCV) on Thursday were trading flat at Rs 404.85 apiece on the NSE. The auto stock touched a 52-week high of Rs 509 and a 52-week low of Rs 306.30 on the exchange.
— IANS
Reader Comments
Understandable decision given rising steel and aluminium prices. But 2.5% feels steep when businesses are already struggling post-pandemic. Hope they focus on improving fuel efficiency to offset the cost for fleet operators who rely on these trucks.
Every company is hiking prices these days - Maruti, Hyundai, and now Tata. Competition is supposed to keep prices in check, but they all seem to be moving in lockstep. 🙄 Maybe government needs to step in to ensure fair pricing in essential transport sector.
As a small business owner who just bought a Tata truck last year, this is concerning. 😔 Loan EMIs are already high, and now maintenance costs will rise. Wish they would've given some advance notice for existing bookings to avoid the hike.
Good that they're increasing EV prices by only 1.5% vs 2.5% for regular vehicles. Shows they want to push electric adoption. But overall, manufacturing in India needs to become more efficient to reduce our dependence on imported raw materials. Jai Hind! 🇮🇳
Interesting to see how global commodity prices affect Indian auto sector. Same story happening in Australia too. Tata should consider hedging strategies or longer-term supplier contracts to avoid these quarterly hikes disrupting business planning for transport companies.
K Kavya N