Tata Motors to Increase Commercial Vehicle Prices by up to 2% Starting July 1

TATA Motors announced on Wednesday that from 1st July 2024, the price of commercial vehicles will be increased by 2%. the automaker said this in an exchange filing.

This decision is due to rising commodity prices and is meant to lessen their effect.

The change in the price will highly impact all types of commercial vehicles sold in India depending on the variants and models.

According to recent data from Tata Motors, the company sold 29,691 commercial cars in May, up 2% over the same month the previous year. This makes TATA Motors lead the Indian market for selling trucks and buses, marking its presence globally.

The overall breakup of the sales has 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.

On the other hand, the Intermediate Light Medium Commercial Vehicle (ILMCV) market experienced notable expansion, as sales rose from 3,450 units in May 2023 to 4,478 units in May 2024, a 30% increase.

Currently, other competitors are also planning to increase prices like TATA Motors did.