India’s largest commercial vehicle manufacturer Tata Motors will increase the price of its commercial vehicle range in effect from October 1, 2021.
The effective price hike, in the range of 2%, will be implemented basis the model and the variant of the vehicle.
In the filing, the auto company said that 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.
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.
Further, Tata Motors continues the efforts to deliver the lowest total cost of ownership for its customers and fleet owners.
The stock is currently trading at Rs301.50 up by Rs2.45 or 0.82% from its previous closing of Rs299.05 on the BSE.
The scrip opened at Rs297.60 and has touched a high and low of Rs301.80 and Rs293.05 respectively.