This decision comes in response to escalating commodity prices, aiming to mitigate their impact.
The price adjustment will affect the entire spectrum of commercial vehicles offered by Tata Motors, with specific increases varying depending on the model and variant.
Tata Motors is one of India’s largest manufacturers of trucks and buses, with a global presence.
Tata Motors recently reported selling 29,691 commercial vehicles in May, a 2% increase from the same month last year.
The sales breakdown showed mixed results: overall truck sales totaled 12,402 units, with Heavy Commercial Vehicles (HCVs) experiencing a 3% decline, dropping from 8,160 units in May 2023 to 7,924 units in May 2024. Conversely, the Intermediate Light Medium Commercial Vehicle (ILMCV) segment saw significant growth, with sales increasing by 30%, from 3,450 units in May 2023 to 4,478 units in May 2024. Other automakers may follow Tata Motors’ lead and consider raising prices.
