TNI || New Delhi || 07th Dec 2021
India’s one of the leading automobile manufacturers, Tata Motors, has gone on to confirm that it will raise the prices of its commercial vehicle fleet in the range of 2.5%.
The hike in prices will be across segments of medium and heavy CVs as well as small commercial vehicles based on the variant of the vehicle and the model.
Due to an increase in the prices of commodities like steel and other precious metals like Aluminium, as well as the high cost of other concerning raw materials, the price of commercial vehicles is going to see a rise from the beginning of the next year.
As per the company, it is absorbing a significant level of increased cost in the manufacturing at various levels.
The steep cost in the total input cost makes it essential to pass on some proportion to the customers by way of a minimal hike.
The company’s shares on the opening day of the week saw a drop of 2.53% and closed at 467.95 per share. Passenger vehicles also haven’t been spared because of the high commodity cost as earlier this month, Maruti Suzuki too had announced a price hike due to variation across increased input costs.