Tata Motors to increase prices of commercial vehicles from January 2023

Jamshedpur, Dec 13: Tata Motors, India’s largest commercial vehicle manufacturer, will be increasing the prices of its commercial vehicles up to 2% from January 2023. While the price increase will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles.

The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike.

According to reports, prices of commodities such as steel and aluminium have corrected from the spiralling prices this year, but the building costs of trucks and buses are still high till now.

The Mumbai-based automaker has also raised the prices of passenger vehicles four times so far this year.

The company said it was pioneering India’s electric vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role in liaisoning with the government in developing the policy framework.