Benzinga | Dec 6, 2021 06:07AM EST

Tata Motors Announced it Will Increase Prices of its Commercial Vehicles as of January 1, 2022

Tata Motors, India's largest commercial vehicle manufacturer, has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2.5%, will be implemented from 1st January 2022 and will be put into effect across segments M&HCV, I&LCV, SCV and Bus, basis individual model and variant of thevehicle.

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 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.