Tata Motors to hike commercial vehicle prices by up to 2% from July 1, 2024; check details

The increase in prices of CV is due to the impact of rising commodity prices, the company said in an exchange filing on the stock exchanges, the BSE and the NSE.

The price increase will apply to the entire range of commercial vehicles but will vary by model and variant.

"Tata Motors announced that it will increase the price of its commercial vehicles effective July 1, 2024, up to 2%. The price increase is to offset the impact of rising commodity prices. It will be applicable across the entire range of commercial vehicles and will vary as per individual model and variant," the automaker said in a regulatory filing.

The CV portfolio of Tata Motors includes trucks, buses, vans and small trucks. Tata Intra V50, Tata 407, Tata Ace, Tata Yodha Pickup, Tata Sierra, Tata Prima, Tata Bolt and Tata Xenon are some of its popular products.

Tata Motors last increased CV prices by up to 2% in April. Before that, it had hiked them by up to 3% in January.

Tata Motors shares decline

Shares of Tata Motors were trading 0.29% lower at ₹983 apiece on the NSE at 11.55 am. It was down 0.22% to ₹983.4 on the BSE.

The automaker had reported a consolidated net profit of ₹17,528.5 crore in the latest March quarter, a 218.9% jump from ₹5,496 crore in the year-ago period.

The consolidated revenue from operations increased 13.5% to ₹1.19 lakh crore in Q4 FY24. During the same period, the revenue of Tata Motors' commercial vehicles segment was ₹21,590 crore, up 1.6% year-on-year (YoY).