Tata Motors India has announced a price hike for its commercial range of products. This hike in price will come into effect starting from 1st July 2022. With this, Tata Motors’ commercial range of products will see a price surge in the range of 1.5-2.5 per cent. The exact amount will depend upon the specific individual model and variant. The automotive maker mentioned the increased input costs at various levels of manufacturing. All this has added up to overall input costs making it imperative to pass on a residual proportion via a minimised price hike.
Tata Motors’ Quest In The EV Segment
The EV segment is one key area where Tata Motors is receiving massive success. The Nexon EV has been the top-selling EV in the four-wheeler segment. In addition to this, Tata Motors has also given the product regular updates to keep up with the competition. Alongside Nexon EV, customers also have the option to choose the Tigor EV. This is more of an intra-city commuter option. Tata Motors also has a commercial offering in the form of the Xpres T EV. This is mainly for the fleet owners looking for EV options.
Tata Motors’ passenger vehicle segment is also going through a purple patch. The carmaker has been garnering significant sales in the last 3 to 4 years. The customers are also resonating positively with all the new launches. As per the latest reports, Tata is working hard for the number 2 spot in the four-wheeler passenger vehicle segment. To date, Hyundai has been holding this position for many years now. And finally, there’s someone to fight for the position. Tata Motor’s blockbuster launches in the form of products like Nexon, Altroz and Safari have been the flag bearer of success. Now with more launches lined up for the future, we can expect more success for the carmaker.