CORPORATE

Tata Motors will raise prices of commercial vehicles by 2.5% from January 2022

Tata Motors, India’s largest commercial vehicle manufacturer, announced a price hike of its commercial vehicle range on Monday. An increase in price in the range of 2.5 per cent would be implemented from January 1, 2022, and would be put into effect across segments, the company said today. 


“The increase in the prices of commodities, such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials has incited this price hike of commercial vehicles. 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,” the company said in a stock-exchange filing on Monday. 


Car market leader Maruti Suzuki India, along with luxury carmakers Mercedes-Benz and Audi had recently said that they would increase prices from January to offset rising input and feature enhancement costs. 


While Maruti had said that the price rise planned for January 2022 would vary for different models, Mercedes-Benz India had said that its hike would be on select models by up to up 2 per cent due to feature enhancement and rising input costs. Maruti had already hiked the vehicle prices three times this year – by 1.4 per cent in January, 1.6 per cent in April and 1.9 per cent in September, taking the total quantum to 4.9 per cent. 

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