SME Times News Bureau | 06 Dec, 2021
Commercial vehicle major Tata Motors Ltd on Monday said the prices of
its trucks and buses will increase by about 2.5 per cent from January 1,
2022 onwards.
The price hike will be across the commercial vehicle segments - medium and heavy/intermediate/light/small and bus.
Tata
Motors said the increase in the prices of commodities such as steel,
aluminium and other precious metals, in addition to higher costs of
other raw materials, has incited this price hike in commercial vehicles.
While
the company is absorbing a significant portion of the increased costs
at various levels of manufacturing, the steep rise in overall input
costs makes it imperative to pass on some residual proportion via a
minimal price hike, it added.
Several car makers like Maruti
Suzuki, Audi and Mercedes-Benz too have announced price hike from the
New Year onwards citing increase in input costs.
