India’s largest commercial vehicle manufacturer, Tata Motors, on Tuesday said that it will increase the price of its commercial vehicle range in effect from 1st October 2021. The effective price hike, in the range of 2%, will be implemented based on the model and the variant of the vehicle, the company said in a press release. According to the company, the continued rise in the cost of commodities such as steel and precious metals necessitates the company to pass on the 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 claims that it continues its efforts to deliver the lowest total cost of ownership for its customers and fleet owners.