Tata Motors to raise prices of its commercial vehicles from July 1

The country’s largest commercial vehicle manufacturer Tata Motors, on Tuesday, announced an increase in the prices of its commercial vehicles in the range of 1.5-2.5 per cent from July 1, 2022.

The homegrown automaker, in a statement, said, “While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike.”

Tata Motors’ commercial vehicle segment - which includes Light Commercial Vehicle (LCV), Medium Commercial Vehicle (MCV), Heavy Commercial Vehicle (HCV) and Construction Equipment Vehicles - managed to sell 27,553 units in May 2022 as against 7,373 units in May 2021.

The company, despite seeing its market share drop from 41.88 per cent in May 2021 to 41.35 per cent last month, maintained the top spot in terms of commercial vehicle retail sales in May 2022.

Tata Motors' commercial vehicle range consists of buses and trucks like Prima, Intercity coach, Tarmac coach, Venture, Ace and School Buses among others.

Recently, the commercial vehicle manufacturer has also launched its first fully electric commercial vehicle called ‘Ace Electric’ with a claimed driving range of up to 154 km.