Tata Motors to hike prices of commercial vehicles from July

Tata Motors has announced it will hike the price of its commercial vehicle range from July 1, the automaker said in a statement on Tuesday.

Tata Motors has announced it will hike the price of its commercial vehicle range from July 1, the automaker said in a statement on Tuesday. An increase in the price of the vehicles would be in the range of 1.5-2.5 per cent, depending upon individual models and variants.

"While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," the statement said. In recent times, prices of key inputs such as metals required in the manufacturing of automobiles have risen substantially.

Tata group, an organisation worth $34 billion, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart, and e-mobility solutions. Tata Motors is India's market leader in commercial vehicles and amongst the top three in the passenger vehicles space. (ANI)