Tata Motors Limited, one of the country's leading automobile manufacturers on Wednesday, June 19, through an exchange filing announced that the company will be increasing the price of its commercial vehicles by up to 2 per cent. This change will be implemented from July 1, 2024, across all models and variants of Tata Motors' commercial vehicles.
This recent move by the company is driven by the rising cost of raw materials, which have been impacting the company, the regulatory filings added.
Moreover, this price hike will apply to the entire range of Tata Motors' commercial vehicles. However, the exact increase will vary depending on the specific model and variant of the vehicle.
Tata Motors' commercial vehicles include trucks, buses, and other vehicles used for business purposes.
Share performance
The shares of Tata Motors on Wednesday at 12:35 pm IST were trading at Rs 983.60, down by 0.23 per cent.
The shares of the company today opened at 990.00, reached a high of 994.90 during trading, and fell to a low of 978.00.
About the company
Tata Motors, a part of the USD 150 billion Tata Group is a global automobile manufactures known for its wide rage of cars, pick-ups, trucks, utility vehicles and buses. With a USD 44 billion operation, the company operates in India, UK, South Korea, Thailand, and Indonesia, and markets its vehicles in regions including Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.
As of March 31, 2024, the company has 90 subsidiaries, two joint operations, five joint ventures, and numerous associated companies.
