The revised prices will come into effect from Oct 1
Homegrown auto major Tata Motors has announced price hikes on its commercial vehicle range. Tata has a wide-stretched portfolio of trucks and buses. The manufacturer now reveals that the prices of these will go up by up to 2%, with the revisions taking effect from October 1, 2021. The exact hikes will, however, vary with variants and models in question. Tata Motors is quoting the rocketing input and material costs as the primary reasons for the hike. The rising costs of Steel and precious metals are bearing the blames here.
Tata Motors has, despite the hike, promised to be trying its level best to absorb a portion of the additional premium at various levels of manufacturing and keep the overall cost of ownership in check. If you might remember, Tata had announced a notable price revision in January 2021 too. Talking of sales, the Indian automaker had recorded a 53% growth in domestic sales in August 2021, over the same period last year. A recent noteworthy product launch from Tata's CV vertical was the CNG-powered Tata 407, earlier this month.