Tata Motors has announced an increase in the price of its commercial vehicles in the region of 2.5%. The price increase will be effective January 1, 2022, across M&HCV, I&LCV, SCV and Bus segments. “The increase in prices of commodities such as steel, aluminium and other precious metals, in addition to higher cost of other raw materials, has incited this price rise,” the company said in a statement.
“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,” it added.
