Tata Motors Vehicle Prices Hike : If you are thinking of buying a vehicle, you may have to pay a higher price in the coming months. Actually, Tata Motors is going to increase the prices of its commercial vehicles. The company has said that it will increase the price of vehicles by about 3%, which will be effective from next month. In such a situation, buyers will have to pay higher prices. It is estimated that after Tata Motors, other vehicle manufacturing companies may also revise the prices.

Announcement of increasing the price of commercial vehicles

Indian automaker Tata Motors yesterday said it will increase prices of its commercial vehicles by up to 3%, the third time this calendar year, to offset the impact of previous input costs. Tata Motors has said that the price increase effective from October 1 will be applicable on its commercial vehicles.

Prices were increased in January and March also

Tata Motors had earlier increased prices by 1.2% in January and 5% in March to ensure that its vehicles comply with the new emission norms. The government imposed stricter norms through Bharat Stage 6 Phase II (BS-6 II) from April 1, including real-time testing of driving emissions, which has increased costs for automakers.

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Price likely to rise by 5%

Earlier, rating agency Fitch had said in a report that due to increasing ownership cost, India's commercial vehicle sales volume will slow down to single digits. Fitch said the implementation of the latest emissions norms could lead to an increase in commercial vehicle prices of about 5% from April 2023. It is estimated that other vehicle manufacturing companies may also announce price increases.

Superfast News Coverage By YuvaPatrkaar.com Team

Publish Date: September 19, 2023

Posted By Ravi Kumar

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