Tata Motors on Tuesday announced an impending price hike of its commercial vehicle (CV) range.
An increase in price in the range of 1.5-2.5%, will come into effect from 1 July 2022 across the range, depending upon individual model and variant, the automobile major stated.
The commercial vehicle manufacturer said, "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."
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.
The company reported a consolidated net loss of Rs 1,032.84 crore in Q4 FY22 as against a net loss of Rs 7,605.40 crore in Q4 FY21. Net sales declined by 11.3% YoY to Rs 77,857.16 crore during the quarter.
Shares of Tata Motors were up 0.46% to Rs 416.45 on the BSE.
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