The Indian commercial vehicle (CV) maker, Tata Motors, has announced a price hike of 2-2.5% (depending upon individual model and variant) across its range of CVs, w.e.f April 1, 2022.
As per the press release from the company, the increase in the prices of commodities such as steel, aluminium, and other precious metals and higher costs of other raw materials have incited this price hike of CVs.
The company has initiated actions to absorb a significant portion of the increased costs at various levels of manufacturing; however, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimised price hike.