Mumbai: Tata Motors has announced a price hike across its commercial vehicle range, effective 1 January, 2021.

The steady rise in material and other input costs, impact of forex and transition to BS6 norms, have cumulatively escalated the cost of manufacturing vehicles. The company had thus far been absorbing the addition in costs but with their gradual increase in line with market trends, it has become imperative to pass at least some portion of the cost increase to customers via appropriate price revisions.

The price increase is expected across the portfolio of M&HCV, I&LCV, SCV and buses. The actual change in price will depend on individual model, variant and fuel type. Tata Motors will continue to offer best in class value in each segment with low total cost of ownership and increasing profit potential for vehicle owners.

Tata Motors has a huge portfolio of cars, SUVs, trucks, buses, defence cars and others. It commands a strong market share in the segment that has been supported with heavy advertising and marketing activities both on-ground and on-air.