Tata Motors to raise prices of CVs from April 1st

22 Mar 2022 , 12:27 PM

An increase in price in the range of 2-2.5%, will come into effect from 1st April 2022 across the range, depending upon individual model and variant, the auto maker said.

The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited this price hike of commercial vehicles. While the company has initiated actions to absorb a significant portion of the increased costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimized price hike.

Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

On a consolidated basis, the auto major reported net loss of Rs 1,338.17 crore in Q3 FY22 as against a net profit of Rs 3,222.21 crore in Q3 FY21. Net sales fell 4.6% to Rs 71,406.77 crore in Q3 FY22 over Q3 FY21.

The scrip fell 1.03% to currently trade at Rs 423.55 on the BSE.

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