“While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," the auto major said.
Homegrown Tata Motors had earlier announced a price hike in the range of 2-2.5% of its commercial vehicles across the range from April 1, 2022, after increasing the prices at the beginning of this year.
Tata Motors, which is already a leader in the electric vehicle (EV) segment for passenger cars with more than 80% share of the market is planning a similar, fast-paced introduction of electric solutions in commercial vehicles as well.
Last month, the commercial vehicle manufacturer unveiled its first electric truck, the Tata Ace EV, a spin on its largest selling truck, Tata Ace. The new Ace EV, India’s most advanced, zero-emission, four-wheel small commercial vehicle (SCV), is a green and smart transport solution ready to serve a wide variety of intra-city applications, the company had said.
Tata Motors' domestic commercial vehicle sales surged to 31,414 units in May as against 9,371 units in the same period last year, whereas its total sales jumped nearly three folds in May to 76,210 units compared to 26,661 units in COVID-hit May 2021.
Part of the Tata group, Tata Motors Limited is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions.
With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors’ vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.
