Tata Motors To Increase Commercial Vehicle Prices From January
Tata Motors Ltd. said its commercial vehicle prices will be revised upward from January.
The steady rise in material and other input costs, impact of forex and transition to BS-VI norms, have cumulatively increased the cost of manufacturing vehicles, necessitating a price revision to partially offset the impact, the company said in a statement.
"There will be a price increase across Tata Motors commercial vehicle range, effective Jan. 1, 2021," the company said in the statement.
It said the actual change in price will depend on individual model, variant and fuel type.
The company had thus far been absorbing the addition in costs but with their steady rise in line with market trend, it has become imperative to pass at least some portion of the cost increase to customers via appropriate price revisions, it added.
The price increase is expected across the portfolio of medium and heavy commercial vehicles, intermediate and light commercial vehicles, small commercial vehicles as well as buses, Tata Motors said.