Tata Motors Increase Price By 2% For All Best Selling Cars From This Date
To mitigate the impact of rising commodity costs, Tata Motors, the automaker decides to raise the price of its commercial vehicle range beginning October 1, 2021.
Tata Motors To Increase The Commercial Vehicle Prices
The price of the commercial vehicles of tata motors will raise from October 1, 2021.
“The effective price hike, in the range of 2%, will be implemented basis the model and the variant of the vehicle,” the company said in an exchange filing.
Reason Behind The Price Hike
The company said rising input costs for main steel and precious metals, are forcing several automakers to increase the prices.
In August, Tata Motors hiked the cost of its passenger automobiles. In the same month, Maruti Suzuki also has raised pricing on the Swift hatchback and CNG versions of other models.
“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 an increase in the price of the products,” it said
The company stated that it has attempted to keep the price rise to a minimum. Tata Motors will try its best to absorb a percentage of the cost at various stages of production.
The company thus stated that it had decided to raise prices as a result of an increase in various input costs.