India’s largest commercial vehicle manufacturer Tata Motors has announced an impending price hike in its commercial vehicle range. An increase in price in the range of 2-2.5% will come into effect from 1st April 2022 across the range, depending upon individual models and variants.
The increase in the prices of commodities such as steel, aluminum, and other precious metals, in addition to higher costs of other raw materials, has incited this price hike in commercial vehicles. The company has initiated actions to absorb a significant portion of the increased costs at various levels of manufacturing. But the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimized price hike.
