+
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
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code