Prices will be hiked in the range of 1.5 to 2.5 per cent owing to rising input costs.
Tata Motors has announced that prices for its range of commercial vehicles will be hiked in the region of 1.5 per cent to 2.5 per cent with effect from July 1, 2022. The quantum of hike will vary depending on the individual model and variant. This marks the third time Tata Motors has hiked prices for its commercial vehicle range this year with previous hikes in pricing coming in January and April 2022 – both times by up to 2.5 per cent. Tata says that the hikes have been necessitated due to increasing input costs in the manufacturing process.
Tata Motors CV range ranges from small load haulers like the Ace up to heavy commercial vehicles and buses.
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In a statement the company said, “While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike.”
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Tata Motors offers a wide variety of commercial vehicles ranging from small load haulers such as the Tata Ace and Intra, the Yodha pick-up and a variety of intermediate, medium, and heavy commercial vehicles including tipper trucks, tractor-trailers and more. Tata’s commercial vehicle arm also offers a range of passenger transport models such as the Tata Winger and Magic up to diesel and electric buses. Earlier in the month the company reported that it had seen a 188 per cent growth year-on-year in overall commercial vehicle sales in May 2022 though month on month figures projected a flatter growth of about 6.4 per cent.
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