Tata Motors, the country’s largest commercial vehicle manufacturer by volume, has announced that it will be increasing the prices across its CV range in India. Come January 2023, prices of Tata’s commercial vehicles will see a hike of up to 2 per cent, and while the price increase will vary as per individual model and variant, the company has confirmed that it will be applicable across the entire range of CVs.
Also Read: Maruti Suzuki Plans Price Hike In January
Citing rising input costs as the reason for the price hike, Tata Motors, in its statement said, “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.”
Also Read: Jeep India To Increase Prices Of Its SUVs From January 1, 2023
Tata Motors has already increased CV prices in India three times in 2022, and this will be the first hike for 2023.
Also Read: Tata Motors To Hike Commercial Vehicle Prices By Up To 2.5% From April 1
Tata Motors has already hiked the price of its commercial vehicles three times in 2022. First, Tata Motors increased CV prices in India on January 1, 2022. Back then too, the company increased prices by 2.5 per cent. Later in April 2022, the company again hiked prices in the range of 2 to 2.5 per cent, depending upon individual models and variants. Most recently, the automaker increased the price of its CVs again in July 2022, in the range of 1.5 per cent to 2.5 per cent.
Also Read: Volvo Cars India Hikes Prices Of XC90, XC60 and XC40 Recharge
Now Tata is not the first automaker to announce price hikes from January 2023. Among passenger carmakers, Maruti Suzuki India and Jeep India have already announced their decision to hike car prices from next month. Luxury car brands like Mercedes-Benz India, Audi India, and Volvo Cars India too have announced price hikes from January 2023. Increasing vehicle prices at the start of a new calendar year is customary in India, and more OEMs, including Tata Passenger Cars, are likely to revise prices at the start of 2023.
