13 Dec 2024
Tata Motors Announces Price Hike for Trucks and Buses
India’s leading commercial vehicle manufacturer, Tata Motors, has announced a price hike of up to 2% for its trucks and buses, effective from January 1, 2025. The decision aims to offset rising input costs impacting production and operations. This price adjustment will vary across models and variants, but it will apply to the entire portfolio of Tata Motors’ commercial vehicles, including trucks and buses.
Reason for the Price Increase
The company stated that the rising cost of raw materials and other inputs has made this price increase necessary. Tata Motors remains committed to providing high-value products while managing operational expenses effectively. Despite the hike, the company continues to ensure its vehicles deliver performance and value for customers.
Sales Performance in November 2024
In November 2024, Tata Motors’ commercial vehicle sales reflected mixed trends.
- HCV Trucks: Declined by 8% to 7,586 units.
- ILMCV Trucks: Stable at 4,374 units.
- Passenger Carriers: Achieved a 42% growth, reaching 3,022 units.
- SCV Cargo and Pickups: Dropped by 5% to 11,201 units.
Overall, domestic sales fell slightly by 1%, totalling 26,183 units, while international business sales remained flat at 1,453 units.
About Tata Motors
Tata Motors is part of the $165 billion Tata Group. It is India’s largest commercial vehicle manufacturer and a global leader in cars, SUVs, trucks, and buses. Operating in several countries, Tata Motors also owns Jaguar Land Rover (UK) and Tata Daewoo (South Korea), offering integrated smart and e-mobility solutions under its “Connecting Aspirations” brand promise.
This price hike highlights Tata Motors’ efforts to address increasing operational costs while maintaining its leadership in the commercial vehicle sector.
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