Tata Motors to hike commercial vehicle prices by 3%

Updated : Sep 19, 2023 13:02
|
Editorji News Desk

Indian automobile maker Tata Motors is set to hike the commercial vehicle prices by 3% which will be implemented from October 1.

The company in an exchange filing has said that the price increase is to offset the impact of the past input costs. 

“The price increase is to offset the residual impact of the past input costs, and will be applicable across the entire range of commercial vehicles,” the company informed the stock exchange in a filing. 

Also Read: Indian passenger vehicle sales surge 9% in August driven by strong demand

Earlier, the company had increased prices of commercial vehicles by up to 5% from April 1 this year. This comes even as Fitch ratings has said that India's commercial vehicle sales volume will slow down to low-to-mid-single digits due to rising ownership costs.

India has also implemented stricter norms through phase II of Bharat Stage 6 from April 1, including testing real-time driving emissions, leading to increased costs for automakers.

Commercial Vehicles

Recommended For You

editorji | Business

Markets settle higher on buying in bank, auto stocks

editorji | Business

Rupee sinks 53 paise to hit new all-time low of 85.80 in mid session

editorji | Business

Rupee falls 23 paise to hit fresh record low of 85.50 against US dollar

editorji | Business

Artificial Intelligence, machine learning to help Indian pharma industry to pivot on innovation

editorji | Business

PSU banks to cross Rs 1.5 lakh crore profit in FY'25, low deposit mobilisation concern