Tata Motors Hike Prices For Commercial Vehicles By 3% Effective From October 1

Tata Group-backed automobile flagship firm, Tata Motors has increased prices of its commercial vehicle models across India by 3% to offset the residual impact of past input costs. The latest price hike will come into effect from October 1, 2023.

In its regulatory filing on September 18, 2023, Tata Motors, India's largest commercial vehicle manufacturer, said, "has announced that it will increase prices of its vehicles, effective 1 October 2023, up to 3%."

It added, "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."

On Monday, Tata Motors shares ended at Rs 640.60 apiece, up by 1.02% on BSE. The company's market cap is nearly Rs 2.13 lakh crore.

In August 2023, Tata Motor's commercial vehicle sales outperformed its passenger car sales in percentage terms. The total CV sales jumped 2% to 32,077 units, while PV sales dropped by 3% to 45,933 units. Overall, the company's total sales stood at 78,010 vehicles, compared to 78,843 units during August 2022.

Under the commercial vehicles category, in August 2023, domestic sales of MH&ICV including trucks and buses, stood at 13,306 units, compared to 12,069 units in August 2022. Total sales for MH&ICV Domestic & International Business in August 2023, including trucks and buses, stood at 13,816 units compared to 12,846 units in August 2022.

Tata Motors is a $42 billion organization, and among the leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With 'Connecting Aspirations' at the core of its brand promise, Tata Motors is India's market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.

Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fueled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. Also, the company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions.