Tata Motors Hikes Prices Of Its Commercial Vehicle Range

Tata Motors will increase prices of its commercial vehicle range from October 2021. The company will increase prices by 2 per cent which will be implemented based on models and variants of the CVs. The company has cited rise in input cost such as steel and other metals used in manufacturing as the primary reason of the price hike. Things like rise in fuel prices leading to increase in freight rates and increasing employment cost too add up to the overall manufacturing cost.

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Total domestic CV sales stood at 26,172 units, registering a growth 55 per cent year-on-year.

The company said in a statement, "The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products. The company has further strived to minimise the increase in the price by absorbing a certain portion of the cost at various levels of manufacturing. Further, Tata Motors continues the efforts to deliver the lowest total cost of ownership for its customers and fleet owners."

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The commercial vehicle segment saw the sales going up last month. Total domestic CV sales stood at 26,172 units, registering a growth 55 per cent year-on-year, while CV exports stood at 3609 units with a growth of 243 per cent over August 2020. Total MHCV sales in August 2021 including MHCV trucks, buses and international business stood at 7,646 units, compared to 3,305 units in August 2020.