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30 Jun 2022

Tata Motors to Increase The Price Range By 2.5% From Next Quarter

By News Date 30 Jun 2022

Tata Motors to Increase The Price Range By 2.5% From Next Quarter

This is the second hike by Tata Motors in this Financial Year; in March 2022, the rates were increased by 2.5%.
The Major Commercial Vehicle Automaker of India, Tata Motors, has announced an increase in the rates of their commercial vehicles in the range of 1.5% to 2.5% to control the rising input costs. 
The hike will be affected from the 1st of July, covering all the CV segments of Tata Motors, and the amount will depend on the model and its specifications. The company says that the rising input cost is pushing them to raise the prices, and the ongoing global situation because of the pandemic and war between Ukraine and Russia are disrupting the supply chain management. In addition, the world is still struggling with the shortage of Semiconductors, which is a big reason behind the rise. 
The Officials of Tata Motors stated, “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”.

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