Tata Motors on Tuesday announced that it will increase the price of its commercial vehicle range with effect from October 1, 2021. The effective price hike, in the range of 2 per cent, will be implemented based on the model and the variant of the vehicle.

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The decision has been taken by the company considering the price rise of the commodities like steel, metals etc.

"The continued rise in the cost of commodities, such as steel and precious metals, necessitates the company to pass on a part of it through increase in price of the products," the company said in a statement.

 

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"The company has further strived to minimise the increase in the price by absorbing a certain portion of the cost at various levels of manufacturing. Further, Tata Motors continues the efforts to deliver the lowest total cost of ownership for its customers and fleet owners," it added.

Tata Motors is a USD 35 billion organization and is one of the leading global automobile manufacturers of cars, utility vehicles, pick-ups, trucks and buses. Also, part of the USD 113 billion Tata group, Tata Motors is India's only OEM offering extensive range of integrated, smart and e-mobility solutions.

It has operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 103 subsidiaries, 10 associate companies, 3 joint ventures and 2 joint operations as on March 31, 2020.