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Tata Motors to hike costs by 2.5% from January 1, 2022

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Vehicle main on Monday knowledgeable the exchanges that it is going to be climbing the costs of its industrial autos from January 1, 2022. A rise in worth within the vary of two.5%, might be carried out & might be put in force throughout segments – M&HCV, I&LCV, SCV and Bus, foundation particular person mannequin and variant of the automobile, the corporate mentioned in its assertion.

Maruti Suzuki too had hiked costs of its autos final month, citing rising enter price pressures. “The rise within the costs of commodities equivalent to metal, aluminium and different valuable metals, along with greater prices of different uncooked supplies has incited this worth hike industrial autos,” the Tata Motors mentioned.

“Whereas the corporate is absorbing a good portion of the elevated prices at varied ranges of producing, the steep rise in general enter prices makes it crucial to move on some residual proportion by way of a minimal worth hike,” it added.

Tata Motors President Passenger Autos Enterprise Shailesh Chandra had informed PTI earlier that costs of commodities, uncooked materials and different enter prices have continued to rise. “An applicable worth hike to no less than partially offset this enhance in prices appears inevitable within the close to to quick time period,” he mentioned.

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