India’s largest commercial vehicle manufacturer Tata Motors on Tuesday said it will increase the price of its commercial vehicle in the range of 2%, effect from 1st October 2021.
The effective price hike will be implemented basis the model and the variant of the vehicle, Tata Motors said in a press release.
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, it said. 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, the statement added.
Tata Motors is the country's largest manufacturer of commercial vehicles which includes trucks, buses and light commercial vehicles.