Tata Motors hikes commercial vehicle prices to 1.5%

The country's largest commercial vehicle manufacturer, Tata Motors, has increased the prices of its commercial vehicles from July 1, 2022 to 1.5 - 2.5 per cent.

The automaker said in a statement that while the company takes extensive measures to absorb a large portion of the increased input costs, the steep rise in input costs makes it imperative to pass on a residual proportion via a minimised price hike. Tata Motors' commercial vehicle segment - which includes Light Commercial Vehicle LCV Medium Commercial Vehicle MCV Heavy Commercial Vehicle HCV and Construction Equipment Vehicles -- sold 27,553 units in May 2022, compared to 7,373 units in May 2021.

The company, despite seeing its market share drop from 41.88 per cent in May 2021 to 41.35 per cent last month, maintained the top spot in terms of commercial vehicle retail sales in May 2022.

Tata Motors' commercial vehicle range consists of buses and trucks like Prima, Intercity coach, Tarmac coach, Venture, Ace and School Buses and others.

The commercial vehicle manufacturer has also launched its first fully electric commercial vehicle called Ace Electric, with a claimed driving range of up to 154 km.