India's Tata to hike commercial vehicle prices for second time in 2023
BENGALURU, March 21 (Reuters) - Indian automaker Tata Motors (TAMO.NS) said on Tuesday that it will raise prices of commercial vehicles by up to 5%, its second hike in four months, to ensure its vehicles comply with new emission norms.
The price increase, starting from April 1, will be applied across the entire range of commercial vehicles, with the hike varying according to the individual model and variant, the company said in an exchange filing.
The move comes as Tata Motors transitions its entire vehicle portfolio to match the standards under the Bharat Stage 6 phase II emission norms.
The company had hiked prices of passenger vehicles by 1.2% in January, flagging a rise in overall input costs in a high-inflation environment, while the Jaguar Land Rover owner also raised the price of Tiago EV variants by 20,000 rupees in Feb.
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