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)

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?