Tata Motors has announced that it will hike the prices for its commercial vehicles starting from 1st April 2022. Customers will have to pay around 2 to 2.5 per cent more depending upon the particular model and variant. The increase in prices of input commodities like steel, aluminium and other precious metals, and other raw materials has led Tata Motors to take this decision. The company mentioned that they have initiated actions to absorb a significant portion of the increased costs. But the sharp increase in overall input cost meant Tata Motors had to pass on some of the proportion to the customers.
The sales growth of Tata Motors in the past 3 to 4 years has been quite very positive. Products like Nexon, Safari and Altroz are selling in good numbers. The turnaround story for Tata Motors in India is quite commendable. With the rising sales figure, Tata Motors is now India’s third in the passenger vehicle segment.
The EV segment is a hot topic in today’s time, and Tata Motors is spending significant resources for R&D. The same is also evident in terms of sales figures for the company. Nexon EV is currently the country’s highest-selling EV in the market, with a market share of more than 50 per cent. And with the launch of Tigor EV, we can expect Tata Motors to come up with more EV models in the future.
Currently, Tata Motors Commercial segment has its presence in India, the UK, South Korea, Thailand, South Africa, and Indonesia. These operations are supported by a global network of 103 subsidiaries, 9 associate companies, 4 joint ventures and 2 joint operations. Furthermore, Tata Motors’ commercial and passenger vehicles are marketed in countries spread across Africa, the Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.
Also Read: Tata Motors sold 77,733 cars in February 2022.