Tata Motors will increase prices of its commercial vehicles by up to 2% with effect from July 1, the company said in a filing with the exchanges on Wednesday, as surging commodity costs have elevated pressure on the operating margin. In March, Tata Motors—the nation's biggest automaker by value—increased the prices of commercial vehicles by up to 2%.
The company has confirmed that it will be applicable to all passenger and commercial vehicles of the company on an ex-showroom basis, though the quantum of increase might vary on different models and variants. Tata Motors Limited is a $150 billion Tata group company and stands among the world's leading automobile companies. It is a leading global automobile firm, with revenues of $44 billion, and it is engaged in designing, manufacturing, selling and servicing of cars, utility vehicles, pick-ups, trucks, and buses.
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