MUMBAI:
Tata Motors, India’s largest commercial vehicle manufacturer, has announced an impending price hike in its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from 1st January 2022 and will be put into effect across segments – M&HCV, I&LCV, SCV, and Bus, basis individual model and variant of the vehicle.
The increase in the prices of commodities such as steel, aluminum, and other precious metals, in addition to higher costs of other raw materials, has incited this price hike in commercial vehicles. 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.
