Homegrown auto major Tata Motors on Thursday announced that it will increase the price of its commercial vehicles up to 2%. The price increase is to offset the residual impact of the past input costs.
The price hike will be effective from April 1, 2024.
While the price increase 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.
Earlier in January, Tata Motors too had announced a price hike for its commercial vehicle models from this year to offset the residual impact of the past input costs.
The commercial range includes Tata Ace, Tata Intra, Tata Winger among other popular models. Citing similar reasons, Mahindra & Mahindra also had hiked prices this month, along with Honda Cars India & luxury car dealer Audi.
Shares of Tata Motors were trading with gains of around 1.99% at ₹1,037.95 apiece on NSE, while the benchmark Nifty 50 was trading muted with a positive bias.
First Published: Mar 7, 2024 3:29 PM IST
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