Tata Motors to Increase Price of its Commercial Vehicle Segment

Tata Motors Ltd commercial vehicles will become more expensive on July 1 after the company announced a price increase on Tuesday. Tata Motors has announced that the prices of its commercial vehicles will rise by 1.5-2.5 percent beginning July 1.

The percentage of increase will be determined by the individual model and variant.

"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 company said.

Earlier this month, Tata Motors released the results of the previous month sales for its Passenger Vehicle Segment.  Tata's performance in the SUV segment has been excellent. Tata Motors had increased the prices of its vehicles in the month of April. Despite this, no difference has been seen in the sales of the company's vehicles.

 At the same time, Tata has sold more vehicles in the month of May as compared to April. Last month, Tata Motors sold 13,471 units of the Nexon SUV, compared to 6,938 units sold in the month of April 2021 last year. Nexon, one of Tata's most popular vehicles, has registered a huge growth of 94 percent in annual sales.