Tata Motors to hike CV prices from April 1

The company said that increases in commodity prices such as steel, aluminium and other precious metals.

Autocar Pro News Desk By Autocar Pro News Desk calendar 22 Mar 2022 Views icon35159 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Tata Motors to hike CV prices from April 1

Tata Motors has announced that it will increase prices of its commercial vehicle range starting April 1. An increase in price in the range of 2-2.5 percent will come into effect across the company’s range, depending upon individual model and variant.

The company said that increases in commodity prices such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has led to this announcement.

While the company said it has initiated actions to absorb 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 minimized price hike.

India’s CV sector has been under pressure due to hikes in fuels as well as the impact of the covid which affected logistics. However, increased expenditure on infrastructure projects has given some impetus to sales. For Tata, domestic CV sales rose 9 percent in February 2022 to 33,894 units as against 31,141 units in the year-earlier month.

RELATED ARTICLES
Bosch hydrogen engine tech-powered truck to be on Indian roads this year

auther Autocar Pro News Desk calendar18 Apr 2024

The global supplier of technology and services is betting big on both electromobility and hydrogen. While announcing the...

IIT Bombay inaugurates Arun Firodia Research Floor 

auther Autocar Pro News Desk calendar09 Apr 2024

IIT Bombay, one of India’s top technical and research institutions, honours Kinetic Group chairman Dr Arun Firodia, one ...

Maruti Suzuki expands capacity at Manesar plant by additional 100,000 units

auther Autocar Pro News Desk calendar09 Apr 2024

New assembly line at Plant A expands total manufacturing capacity at the Manesar plants to 900,000 units per annum. Alon...