Tata Motors has announced its plans to increase the prices of its commercial vehicles up to 2 per cent from January 2023. The price increase will vary as per individual model and variant. But, Tata Motors mentioned that the price hike will impact the entire range of commercial vehicles. To date, the company has been absorbing a significant portion of the increased costs. But given the steep rise in overall input costs has compelled it to pass on some proportion through this minimal price hike.
Three Times Price Hikes In 2022
For the year 2022, Tata Motors hiked the prices of its range of products, a total of three times. The first came in January 2022. This saw a price hike of up to 2.5 per cent. Then again in the span of 4 months, Tata Motors hiked the prices in April 2022. This increased the prices in the range of 2 to 2.5 per cent. Then just after 3 months, i.e. in July 2022, Tata Motors again hiked the prices for its commercial range of products. This price hike saw the prices go up by in the range of 1.5 to 2.5 per cent.
Other News
Tata Motors recently brought in a new synthetic engine oil in form of the 5W30. This engine oil will cater specifically to boosting the performance of the new-generation BS6 diesel engines. With this move, Tata Motors reflects upon its true DNA of consistently delivering customer delight along with the lowest total cost of ownership. This new engine oil will aim at the enhancement of engine life. Moreover, this engine oil also reduces friction between the moving parts greatly. All in all, improving the engine’s reliability and durability as well as improving emission compliance to a great extent. Tata Motors also claimed an increase in vehicle uptime on the road with this engine oil. This in return adds to the transporter’s earning more revenues and profits.
Also Read: Tata Motors bags 1,000 buses order from Haryana Roadways.
