+
Tata Motors to hike commercial vehicle prices by 2% from July 1, 2024
ECONOMY & POLICY

Tata Motors to hike commercial vehicle prices by 2% from July 1, 2024

Tata Motors announced via an exchange filing, that it will raise prices of its commercial vehicles by up to 2% effective July 1, 2024. This decision is aimed at equalising the impact of rising commodity prices. The price adjustment will be applied across Tata Motors' entire range of commercial vehicles, with specific increases varying by model and variant.

Tata Motors, a prominent manufacturer of trucks and buses in India with a global presence, recently disclosed selling 29,691 commercial vehicles in May, marking a 2% increase compared to the same period last year. The breakdown of sales showed varied performance- while overall truck sales amounted to 12,402 units, Heavy Commercial Vehicles (HCVs) experienced a 3% decline, dropping from 8,160 units in May 2023 to 7,924 units in May 2024. In contrast, the Intermediate Light Medium Commercial Vehicle (ILMCV) segment saw substantial growth, with sales rising by 30% from 3,450 units to 4,478 units during the same period. The move by Tata Motors to adjust prices could prompt other automakers to consider similar measures in response to escalating costs of commodities.

(Source: ET)

Tata Motors announced via an exchange filing, that it will raise prices of its commercial vehicles by up to 2% effective July 1, 2024. This decision is aimed at equalising the impact of rising commodity prices. The price adjustment will be applied across Tata Motors' entire range of commercial vehicles, with specific increases varying by model and variant. Tata Motors, a prominent manufacturer of trucks and buses in India with a global presence, recently disclosed selling 29,691 commercial vehicles in May, marking a 2% increase compared to the same period last year. The breakdown of sales showed varied performance- while overall truck sales amounted to 12,402 units, Heavy Commercial Vehicles (HCVs) experienced a 3% decline, dropping from 8,160 units in May 2023 to 7,924 units in May 2024. In contrast, the Intermediate Light Medium Commercial Vehicle (ILMCV) segment saw substantial growth, with sales rising by 30% from 3,450 units to 4,478 units during the same period. The move by Tata Motors to adjust prices could prompt other automakers to consider similar measures in response to escalating costs of commodities. (Source: ET)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code