Tata Motors Ltd. has announced that it would increase the price of its commercial vehicles by up to 2% effective July 1, 2024.
“The price increase is to offset the impact of rising commodity prices. It will be applicable across the entire range of commercial vehicles and will vary as per individual model and variant,” the company said in a filing with stock exchanges.
Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market. The company’s shares declined ₹8.25, or 0.843%, to close at ₹977 on the BSE on Wednesday.
