Tata Motors, the country’s largest commercial vehicle manufacturer by volume, has announced that it will be increasing the price of its CVs. The company has said that it will be making an upward revision of up to 3 per cent across its entire range of commercial vehicles. The revised prices will come into effect from October 1, 2023. Tata Motors has said that the price hike has been initiated mainly to make up for the residual impact of the past input costs.
In the official statement released by Tata Motors, the company said, “Tata Motors, India’s largest commercial vehicle manufacturer, has announced that it will increase prices of its vehicles, effective 1 October 2023, up to 3 per cent. 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.”
Also Read: Tata Motors To Hike Commercial Vehicle Prices From January 2023
This will be the third time that Tata Motors will be increasing commercial vehicle prices in India this year. Previously, the automaker had increased CV prices in January 2023 by up to 2 per cent, citing rising input costs. Later the company again rolled out a price hike of 5 per cent in April 2023. The second time, Tata said the revision was a result of the company's efforts to transition to the more stringent BS6 phase II emission norms, which require vehicles to show Real Driving Emission (RDE).
Also Read: Tata Motors To Increase Commercial Vehicle Prices From April 1
It’s common for automakers to increase vehicle prices during the festive season, and we can soon expect another announcement from the company regarding a price hike for its passenger vehicles.
