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HomeBusinessTata Motors to increase price of commercial vehicle by up to 2%...

Tata Motors to increase price of commercial vehicle by up to 2% from July

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Tata Motors, the Indian automaker has announced a price hike of up to 2 per cent for its commercial vehicles effective from July 1, 2024. The company said  that the price adjustment is necessary to counterbalance the rising costs of commodities in a regulatory filing on Wednesday.

The company stated that the price increase would be applied across its entire range of commercial vehicles, with the exact increment varying according to individual models and variants. This marks the second price hike this year, following a similar increase of up to 2 per cent in March.

The company emphasised that the price rise is unavoidable due to the escalating prices of raw materials. Despite the price increase, Tata Motors’ shares have seen a 26.6 per cent rise this year, although they experienced a slight dip of 0.2 per cent today.

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As one of India’s largest manufacturers of trucks and buses, Tata Motors maintains a significant global presence. Earlier this month, the company announced plans to invest between Rs 16,000 crore and Rs 18,000 crore in its electric vehicle (EV) division by the fiscal year 2029–30 (FY30). Currently offering four electric car models, Tata Motors aims to launch six more by March 2026.

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