Tata Motors, India’s largest commercial vehicle manufacturer, has announced that it is to increase the prices of its entire commercial vehicle range by up to 2% from July 1, 2024. According to the company, the latest price increase is “to offset the impact of rising commodity prices.” It will be applicable across the entire range of commercial vehicles, and will vary as per individual model and variant.
This latest price increment from July 1, 2024 marks the third price hike in the year to date for the Tata Motors range of CVs, and will cumulatively add up to 7 percent.
The first price increase of CY2024, by up to 3%, effective from January 1, 2024 was announced on December 11, 2023 to “offset the residual impact of the past input costs.”
Tata Motors’ second CV price hike – by up to 2% – was announced on March 7 and became effective from April 1, 2024. This was attributed to “offset the residual impact of the past input costs.”
In CY2023, Tata Motors had hiked commercial vehicle prices on three separate occasions, together accounting for an up to 10% increase.
On the sales front, in the first two months of the current fiscal year, Tata Motors has dispatched a total of 59,229 commercial vehicles, up 15% year on year (April-May 2023: 51,481 units).
