Tata Motors to increase prices of its commercial vehicles from July 1, 2022
Tata Motors to increase prices of its commercial vehicles from July 1, 2022
Tata Motors, India's largest commercial vehicle manufacturer, has announced an impending price hike of its commercial vehicle (CV) range. The price increase will be in the range of 1.5-2.5% and will come into effect from July 1, 2022, across the range, depending upon individual model and variant.
The homegrown automaker, in a statement, 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."
Tata Motors' commercial vehicle segment includes Light Commercial Vehicle (LCV), Medium Commercial Vehicle (MCV), Heavy Commercial Vehicle (HCV) and Construction Equipment Vehicles. Tata Motors' commercial vehicle range consists of buses and trucks like Prima, Intercity coach, Tarmac coach, Venture, Ace and School Buses among others.
Tata Motors in the recent past launched its first fully electric commercial vehicle called 'Ace Electric'.