Tata Motors to increase commercial vehicle prices from January 2021

Tata Motors, India's leading vehicle manufacturer, on Monday, announced that there will be a price increase across its commercial vehicle range, effective January 01, 2021.

In a statement the company said, the steady rise in material and other input costs, the impact of forex and transition to BS-VI norms, have cumulatively escalated the cost of manufacturing vehicles. The company had thus far been absorbing the addition in costs but with their steady rise in line with the market trend, it has become imperative to pass at least some portion of the cost increase to customers via appropriate price revisions.

"There will be a price increase across Tata Motors commercial vehicle range, effective January 01, 2021," the company said in the statement.

The price increase is expected across the portfolio of medium and heavy commercial vehicles (M&HCV), intermediate and light commercial vehicles (I&LCV), small commercial vehicles (SCV) and Buses. The actual change in price will depend on individual model, variant and fuel type. Tata Motors will continue to offer best in class value in each segment with a low total cost of ownership and increasing profit potential for vehicle owners.

The move comes at a time when early every automaker has announced a price hike to offset the input costs.

Tata Motors Limited, a USD 35 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. Part of the USD 113 billion Tata group, Tata Motors is India's largest and the only OEM offering extensive range of integrated, smart and e-mobility solutions. It has operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 103 subsidiaries, 10 associate companies, 3 joint ventures and 2 joint operations as on March 31, 2020.