Tata Motors, India’s largest commercial vehicle manufacturer and the market leader, is to increase prices of its commercial vehicle range with effect from October 1, 2021. The effective price hike, in the range of 2%, will be implemented depending on the model and the variant of the vehicle.
In a statement, the company said: “The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products. The company has further strived to minimise the increase in the price by absorbing a certain portion of the cost at various levels of manufacturing.”
In the April-June 2021 period, Tata Motors sold a total of 42,825 units, and had an overall CV market share of 40.50 percent.