Tata Motors to increase commercial vehicle prices from July

Automaker Tata Motors on Wednesday, June 19, announced that it will increase the prices of its commercial vehicles, effective July 1, 2024, by up to 2%

By Connect Gujarat Desk 19 Jun 2024 in Business

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Tata Motors to increase commercial vehicle prices from July

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Automaker Tata Motors on Wednesday, June 19, announced that it will increase the prices of its commercial vehicles, effective July 1, 2024, by up to 2%.

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The price increase is to offset the impact of rising commodity prices, Tata Motors said in an exchange filing.

This is the third increase in CV prices this year announced by Tata Motors.

The automaker had announced the first increase in commercial vehicle prices from January 1 up to 3%, followed by 2% from April 1.

The automaker said that a price increase will be implemented across their entire range of commercial vehicles. The extent of the price hike will vary depending on the specific model and variant.

The company, which is separating its commercial vehicle and passenger vehicle businesses, is reportedly considering an eventual merger of its electric vehicles business—a step-down subsidiary—with the PV unit after the demerger exercise concludes.

On March 4 this year, Tata Motors announced a value-unlocking exercise to demerge its businesses into two separate listed entities.

One would be the CV business and its related investments, and the other would be the PV businesses, including the EV unit, JLR (Jaguar Land Rover), and related investments.

Tata Motors shares were trading at ₹984.30 apiece, which was 0.16% lower at the NSE. On March 5, the stock hit a 52-week high of ₹1,065.60.

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