Mumbai : After Maruti Suzuki, Tata Motors has also announced price hike of its commercial vehicles of its commercial vehicles citing rise in input cost. The price hike will be effective from 1st October.
The effective price hike, in the range of 2%, will be implemented basis the model and the variant of the vehicle.
“The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products. The company has further strived to minimise the increase in the price by absorbing a certain portion of the cost at various levels of manufacturing. Further, Tata Motors continues the efforts to deliver the lowest total cost of ownership for its customers and fleet owners” the company said in a statement.
The Tata Motors’ range of commercial vehicles include Trucks, Buses, pick-ups and utility vehicles.
Earlier in the month, Maruti Suzuki, India’s top seller of passenger vehicles had announced price hike of selected models. In July, the company had hiked prices of Swift and all CNG models upto Rs. 15,000.