Tata Motors to hike prices of commercial vehicles by up to 2% from July 1

Tata Motors on Wednesday announced its decision to increase the prices of its commercial vehicle lineup by up to 2 per cent, which will come into effect from July 1, 2024 to offset the impact of rising commodity prices, according to Tata Motors statement.
Tata Motors, a prominent player in the Indian automotive industry said the price hike will be applicable across the entire range of commercial vehicles and will vary as per individual model and variants.
The company announcement comes on the heels of a similar price increase that the company had implemented earlier this year, effective from April 1, 2024, to offset the residual impact of past input costs.
As a leading manufacturer of commercial vehicles in India, Tata Motors offers a wide range of trucks and buses catering to various segments of the market.
Shares of Tata Motors have seen rise of 26.6% so far this year, although they have experienced a slight decline of 0.2% recently.
(With inputs from agencies)