Tata Motors increases commercial vehicle prices for third time consecutively in 2023

20 Sep 2023 , 10:30 AM

Tata Motors announced on Monday that it will boost the prices of its commercial vehicles by up to 3%, the third increase this calendar year to offset the residual impact of past input costs.

The price increase, which will take effect on October 1, will apply to the entire lineup of commercial vehicles, according to the company.

To ensure that its vehicles meet the new pollution standards, the business raised prices by 1.2% in January and 5% in March.

From April 1, India introduced tighter norms through phase II of Bharat Stage 6, including testing real-time driving emissions, resulting in higher expenses for automakers.

Fitch Ratings warned earlier in the day in research that India’s commercial vehicle sales volume will decelerate to the low-to-mid-single digits due to increased ownership expenses.

According to Fitch, the implementation of the higher emission standards will result in an approximately 5% increase in commercial vehicle pricing beginning in April 2023.

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