Tata Motors Announces Up to 2% Price Hike from April 2024

7 Mar 2024 , 03:37 PM

Tata Motors made headlines on September 18 with an announcement regarding a forthcoming increase in the prices of its commercial vehicles, set to take effect from October 1, 2023. The adjustment, anticipated to be up to 3%, aims to counterbalance the impacts of previous input costs.

India’s leading commercial vehicle manufacturer clarified that this price adjustment is intended to offset the lingering effects of past input costs. While the extent of the price increase will vary depending on the individual model and variant, it will be applicable across the entire spectrum of commercial vehicles offered by Tata Motors.

Additionally, on March 4, Tata Motors officially communicated to the stock exchanges its decision to undergo a demerger, separating its business operations into two distinct listed entities: commercial vehicles (CV) and passenger vehicles (PV), the latter encompassing electric vehicles (EVs) and Jaguar Land Rover (JLR).

According to Tata Motors, the demerger initiative comes at a time when its commercial vehicle, passenger vehicle (including electric vehicles), and luxury vehicle (Jaguar Land Rover) businesses have been implementing distinct growth strategies. Since 2021, these divisions have operated independently under their respective CEOs.

Moreover, on January 21, Tata Motors had previously announced a price hike averaging 0.7% across its entire range of passenger vehicles, including electric vehicles (EVs), effective February 1, 2024.