Tata Motors, India’s leading commercial vehicle manufacturer, has announced a price hike of up to 2 per cent across its entire range of trucks and buses. The increase will take effect from January 1, 2025.
This decision comes in response to the persistent rise in input costs, which has been impacting the automobile industry. “The price increase is to offset the rise in input costs,” Tata Motors stated.
The company aims to offset these increased costs through the price adjustment. While the exact price increase will vary based on the specific model and variant, it will be applicable to all commercial vehicles offered by Tata Motors.
Earlier, Tata Motors announced that a price hike of 3 per cent will also be implemented across its passenger vehicle portfolio, which will include electric vehicles (EVs). The price increase of 3 per cent, effective January 2025, will vary by model and variant.
Earlier, Hyundai Motor India, Maruti Suzuki India (MSIL), Mahindra & Mahindra (M&M), and JSW MG Motor also decided to jack up prices across their model range in a bid to pass on some input cost pressure to consumers.
In the luxury car market, players such as Audi, Mercedes-Benz, and BMW have announced a price hike of 3 per cent on their entire model ranges, which will also be effective from January 1, 2025.