After Mercedes-Benz, THIS Indian Company Will Raise Vehicle Prices From April 1. Know Here

Commercial Vehicle: The main reason for the price hike is the hike in input costs due to the rise in metal prices. The prices of steel, aluminium and other metals have skyrocketed since the inception of the Russia-Ukraine war.

New Delhi: Mercedes-Benz announced last week, that it would increase the prices of its entire model range by around 3 per cent from April 1. After this, Tata Motors has also announced that it will hike the prices of its commercial vehicles in the range of 2-2.5 per cent.

The main reason, according to media reports, is the hike in input costs due to the rise in metal prices. The prices of steel, aluminium and other metals have skyrocketed since the inception of the Russia-Ukraine war. Other raw material prices too have surged.

Tata Motors is the biggest seller of commercial vehicles in India. In January 2022, it sold 76,210 units, according to data available on its official website. The company has a significant share in the market of defence as well as construction vehicles.

It leads the Indian market with Mahindra and Ashok Leyland being on the second and third place in the list. Tata Motors share price was Rs 440.35 on Tuesday, 3 per cent more than Monday’s.

The regulatory filing of the company read, “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 minimised price hike.”

(With inputs from PTI)