Tata Motors has announced that its commercial vehicles range will have a 2% hike in price, effective 1 October 2021. The price hike will be based on the model and variant and in an official statement, the CV manufacturer said that the hike in price is owing to the rise in the cost of commodities.
Tata Motors issued an official statement reading, “Tata Motors will increase the price of its commercial vehicle range in effect from 1 st October 2021. The effective price hike, in the range of 2%, will be implemented basis the model and the variant of the vehicle.”
“The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through an increase in the price of the products. The company has further strived to minimise the increase in the price by absorbing a certain portion of the cost at various levels of manufacturing. Further, Tata Motors continues its efforts to deliver the lowest total cost of ownership for its customers and fleet owners.”
