Tata Motors Announces Price Hike Of Commercial Vehicles By Up To 2% From Jan

Tata Motors, India’s leading player in the commercial vehicle segment, has announced plans to increase the prices of commercial vehicles by up to 2 per cent from January 2023 due to increased input costs.

In November, Tata Motors has revised the prices of passenger vehicles. 

While the price hike will vary as per individual model and variant, it will be applicable across the entire range of commercial vehicles, Tata Motors said in a statement on Tuesday.

“The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike,” the statement added.

Meanwhile, Tata Motors is targeting a ‘near zero net automotive debt’ status by FY24. The company in its 2022 annual report said revenue from other operations (before inter-segment eliminations) grew by 45.8 per cent to Rs 3,809 crore in FY 2021-22 compared to Rs 2,612 crore in FY 2020-21. “This is mainly on account of increase in revenue of Tata Technologies post recovery from the COVID-19 pandemic,” the report noted.

Tata Motors yesterday, on December 12, approved the partial divestment of its equity shares in subsidiary Tata Technologies via an initial public offer (IPO).