MUMBAI: Tata Motors, one of the largest automakers in the country, on Monday stated that it is going to increase the price of its commercial vehicle range from 1 January 2022. 

The company said in a stock-exchange filing on Monday that it will implement an increase in price in the range of 2.5 per across segments of M&HCV, I&LCV, SCV and bus. 

“The increase in the prices of commodities, such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials has incited this price hike of commercial vehicles. While the company is absorbing a significant portion of the increased costs at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimal price hike,” the company statement said. 

Car market leader Maruti Suzuki India, along with luxury carmakers Mercedes-Benz and Audi had recently said that they would increase prices from January to offset rising input and feature enhancement costs. 

While Maruti had said that the price rise planned for January 2022 would vary for different models, Mercedes-Benz India had said that its hike would be on select models by up to up 2 per cent due to feature enhancement and rising input costs. Maruti had already hiked the vehicle prices three times this year – by 1.4 per cent in January, 1.6 per cent in April and 1.9 per cent in September, taking the total quantum to 4.9 per cent. 

Meanwhile, Tata Motors earlier said its total sales increased by 25 per cent to 62,192 units in November as compared to the same month last year when it had dispatched 49,650 units in November 2020.

The automaker posted a 21 per cent increase in its domestic wholesales at 58,073 as compared with 47,859 units in the year-ago period.