The price hike will apply to the entire range of Tata Motors trucks and buses
If you're looking to own a commercial vehicle this New Year, you might have to stretch your budget slightly. Tata Motors, India's largest commercial vehicle manufacturer, has announced a price hike across its range of vehicles for 2022.
From January 1, 2022, the prices of Tata Motors commercial vehicles will see hikes of up to 2.5%. The upward revision will apply to M&HCV, I&LCV, SCV, and Buses, varying across variants.
Tata Motors blames the steep increase in input costs for the proposed price revision. The prices of raw materials such as steel, aluminum have risen over the years, and the manufacturer can't absorb the entire premiums, explains a statement from Tata Motors.'
In the other news, passenger car manufacturers including Tata, Honda, and Renault have already expressed their intent to increase prices from 1 January 2022. Maruti Suzuki had made it clear on the first week of December that they'd hike the prices of various models from early next year, owing to increased production costs.