Tata Motors to hike CV prices from July 1

Listed auto major Tata Motors will be hiking the prices of its commercial vehicles from July 1, 2022, the company said in a stock exchange filing on Tuesday.

An increase in price in the range of 1.5-2.5% will come into effect across the range, depending upon individual model and variant, it said in a press release.

"While the company takes extensive measures to absorb a significant portion of the increased input costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on a residual proportion via a minimised price hike," it said.

Auto companies have been increasing prices of vehicles since 2021 owing to the rise in input prices due to Covid-19 pandemic, the war in Russia-Ukraine and persistent semiconductor shortage.