Tata Motors Commercial Vehicle Price to Hike by 2% from July 01

Tata Motors, a reputable CV maker, announced to increase its commercial vehicle prices by 2%, effective July 1, 2024. This decision comes in response to increasing commodity prices.

In an official statement, the company stated,

“The price increase is to offset the impact of rising commodity prices. It will be applicable across the entire range of commercial vehicles, and will vary as per individual model and variant.”

Tata Motors CV Price Hike

The decision was taken due to increasing commodity prices. This marks the third price hike in FY24, followed by 3% in January and 2% in March.

Despite the hike, company shares have surged by 26.6% in the following year. Also, they have experienced a slight decline of 0.2% following the announcement.

Investment Plans in the EV Segment

Tata Motors has some investment plans for global expansion to take market share. The investment will be in the range of Rs. 16,000 cr. – Rs. 18,000 cr. by the company, specifically for electric vehicle (EV). Additionally, it is launching six new electric car models, latest, by March 2026.

Tata Motors' net profit tripled to Rs. 17,528 cr. for the fourth quarter of FY24, as revenue rose by 13.3%. For this financial year, the net profit was boosted twelve times to Rs.31,806 cr., with consolidated revenues touching nearly Rs. 4.38 trillion. Additionally, they're determined to increase their share of passenger vehicles from 13.81% in FY24 to 20% by FY30.

Tata Motors continues to retain its global presence by offering best-in-class commercial vehicles. Its extensive line-up of trucks and buses further expands its market base.

Also read: Magenta Mobility Expands Partnership with Tata Motors