On December 21, Tata Motors announced that its commercial vehicle prices will be reviewed upward from January next year. There are a number of factors that have led to the revision of prices, according to Tata Motors. A few reasons include the sturdy rise in material and other input costs, effect of forex and conversion to BS-VI norms. Cumulatively, all these have augmented the price of manufacturing vehicles. According to a company, to partially offset the impact, all the reasons have necessitated a price revision. With effect from January 1, 2021, there will be a price rise across Tata Motors commercial vehicle range.
The statement further stated that the real change in price will depend on individual model, variant and fuel type. So far, the company had been absorbing the addition in costs. However, with their steady rise in line with market trend, it has become domineering to pass at least some percentage of the cost increase to customers via suitable price revisions. According to Tata Motors statement, the price rise is likely across the portfolio of medium and heavy commercial vehicles, intermediate and light commercial vehicles, small commercial vehicles as well as buses.
Apart from this, Tata Motors has launched 7-seater Tata Gravitas in order to compete with 7-seater MG Hector plus. In recent times, Tata is seen consolidating its market by taking on its competitors. To this end, it has come up with a slew of new vehicles ranging from SUV, Sedan, commercial vehicles as well as luxury vehicles.