Automobile major Tata Motors has confirmed a price increase for its commercial vehicle range, in news reported by Business Insider.
Tata Motors Implements Price Increase Between 2-2.5% Depending on Model and Variant
“The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited this price hike of commercial vehicles,” the company said in a statement.
“While the company has initiated actions to absorb a significant portion of the increased costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimised price hike.”
Source: Business Insider